The latest rally in crypto assets may prove more durable than earlier short-lived rebounds, according to 21Shares co-founder Ophelia Snyder. In her view, the market may be moving into a phase she describes as “Crypto Spring.”
Snyder pointed to several factors underpinning the recovery: lower oil prices, gains in technology stocks, recent SEC guidance and rising demand for crypto ETFs. She said persistent ETF inflows would be the key signal to watch in assessing whether the market’s momentum can continue.
The 21Shares co-founder also said the latest downturn was relatively short, lasting about nine months. She contrasted that period with earlier crypto bear markets, including the prolonged slump after the collapse of FTX, while noting that greater public scrutiny can now amplify swings in market sentiment.
Spot bitcoin ETFs took in more than $2 billion this week. Bitcoin rose above $87,000 at one point, but is now holding around $84,000.
