Crypto’s 2025 ‘whipsaw’ year drove capitulation as markets look toward a 2026 rebound, Pantera says

Market Intelligence Analysis

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Why This Matters

Pantera's outlook suggests a challenging year for non-bitcoin tokens in 2025, but expects a rebound in 2026, driven by potential improvements in value capture, on-chain activity, and retail flows.

Market Impact

Market impact analysis based on neutral sentiment with 70% confidence.

Sentiment
Neutral
AI Confidence
70%
Time Horizon
Short Term

Article Context

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In its ‘Navigating Crypto in 2026’ outlook, the fund says non-bitcoin tokens have been sliding since late 2024, weighed down by weak value capture, slowing on-chain activity, and fading retail flows.

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Original article published by CoinDesk on January 23, 2026.
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