Galaxy Digital executive: The crypto market will not see a V-shaped recovery; it will experience a period of fluctuation before gradually rising.

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. Stablecoins, tokenization, and the integration of blockchain with traditional finance are accelerating, making cryptocurrencies both a financial asset and a core part of the financial system. Kurz predicts that cryptocurrencies will not experience a V-shaped recovery but rather a period of range-bound trading, followed by a gradual price increase as institutional capital inflows and the continued integration of cryptocurrencies with traditional finance progress. (CoinDesk)