PANews reported on December 10th that Bitwise CEO Hunter Horsley posted on the X platform: "The four-year cycle in the crypto space is dead. The market is not what it used to be. It has matured. When we look back at 2025, we will finally realize that the market has actually been in a bear market since February of this year, but it has been masked by the continued buying by digital asset reserves and Bitcoin reserves. All signs point to a grand bull market in 2026. It's truly amazing."