Cryptocurrency Market: Signs of a Bottom in Bearish Trend, 'Divergence Phenomenon' Occurs, According to Bitwise

On the 21st, cryptocurrency asset management firm Bitwise released its Q4 2025 market report, indicating that the current cryptocurrency market is exhibiting a 'divergence phenomenon' typically seen at the bottom of past bear markets. The report highlighted the simultaneous occurrence of significant price drops and strong growth in fundamental indicators.

Specifically, in Q4 2025, while Ethereum prices dropped by 29%, the transaction volume for Ethereum (ETH) and Layer 2 networks reached an all-time high, increasing by 24.5%. Additionally, cryptocurrency-related stocks fell by about 20%, but the revenue growth rate of cryptocurrency companies was three times that of other industries...