PANews reported on February 15th, citing Coindesk, that Steve Kurz, Global Head of Asset Management and Co-Head of Digital Assets at Galaxy Digital, believes the recent cryptocurrency decline was driven by liquidity and leverage releases rather than a systemic failure. This signifies a more mature cryptocurrency cycle than in 2022, with most of the forced sell-off likely already absorbed by the market. The accelerated development of stablecoins, tokenization, and the integration of blockchain with traditional finance is transforming cryptocurrencies into both a financial asset and a core part of the financial system.

Steve Kurz predicts that cryptocurrencies will not experience a V-shaped recovery, but rather a period of range-bound trading. Subsequently, with the injection of institutional capital and the continued integration of cryptocurrencies with traditional finance, cryptocurrency prices will gradually rise.