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Crypto Winter Has Been Here Since January 2025, But Recovery May Be Closer Than You Think

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Crypto Winter Has Been Here Since January 2025, But Recovery May Be Closer Than You Think


Retail crypto suffered most since January 2025, while ETFs and DATs masked true losses for Bitcoin, Ethereum, and XRP, according to Hougan.

Bitwise Asset Management’s Chief Investment Officer, Matt Hougan, has stated that the cryptocurrency market has been in a full-blown “crypto winter” since January 2025.

The exec said that signs suggest the downturn may be closer to ending than beginning.

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Positive News Isn’t Driving Prices

In a recent post titled “The Depths of Crypto Winter,” Hougan explained that, despite ongoing positive developments in adoption, regulation, and institutional involvement, the market is in a severe bear market.

Hougan noted that Bitcoin has fallen almost 39% from its October 2025 all-time high, while Ethereum is down 53%, and many other digital assets are performing even worse. He said this should not be interpreted as a short-term correction or a minor dip, but rather as a deep, drawn-out bear market similar to previous crypto winters, including those in 2018 and 2022. According to him, factors such as excessive leverage and widespread profit-taking by long-term holders contributed to the current downturn.

Despite developments such as a new Federal Reserve chair, Kevin Warsh, who is supportive of Bitcoin, increasing institutional hiring in crypto, and growing adoption by traditional financial firms, investor sentiment remains deeply wary. Hougan said that “Good news doesn’t matter in the depths of winter,” and added that these severe market conditions typically end not with enthusiasm but through exhaustion and sentiment normalization.

The Bitwise CIO also said that institutional flows played a crucial role in masking the true extent of the 2025 downturn. He cited data from the Bitwise 10 Large Cap Crypto Index, which showed that assets like Bitcoin, Ethereum, and XRP experienced smaller declines, between 10% and 20%, largely due to support from ETFs and Digital Asset Treasuries (DATs).

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Other assets, including Solana, Litecoin, and Chainlink, experienced typical bear-market declines of 37% to 46%, while Cardano, Avalanche, Sui, and Polkadot saw losses ranging from 62% to 75%. Hougan explained that institutional access and investment through ETFs and DATs provided a buffer for some assets, while retail-focused tokens bore the brunt of the market downturn.

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For instance, ETFs and DATs purchased over 744,000 Bitcoin during the period, representing roughly $75 billion in support. Without that institutional buying, he estimated Bitcoin could have fallen by around 60% since January 2025. As such, several factors could mark the end of the current crypto winter, according to Hougan, who also said,

“I think we’re going to come roaring back sooner rather than later. Heck, it’s been winter since January 2025. Spring is surely coming soon.”

BTC’s Global Standing Weakens

The depth of the current downturn is also reflected in Bitcoin’s standing among global assets. As reported by CryptoPotato, Bitcoin has dropped out of the top ten assets by market capitalization and now ranks 13th globally, according to CompaniesMarketCap data from February 2.

Its market cap has declined to roughly $1.56 trillion, down from about $2.35 trillion back in July 2025, when it ranked sixth after rallying past $119,000.

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Nexo Becomes the official digital asset partner of Argentina’s national football team in LATAM

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Nexo Becomes the official digital asset partner of Argentina's national football team in LATAM

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Nexo partners with the Argentine Football Association (AFA) ahead of the 2026 FIFA World Cup, reinforcing the company’s expansion in South America.

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Summary

  • Nexo partners with Argentina’s national team as regional digital asset sponsor ahead of 2026 World Cup
  • The deal strengthens Nexo’s expansion in Argentina following Buenbit acquisition and local hub launch
  • Nexo and AFA formalize partnership in Buenos Aires, marking push into South American crypto market

BUENOS AIRES, Argentina, April 14, 2026Nexo, the premier digital assets wealth platform, today announced a partnership with the Argentine Football Association (AFA), becoming the Official Regional Digital Asset Partner of the Argentine National Football Team across South America ahead of the 2026 FIFA World Cup. 

The agreement deepens Nexo’s expansion in Argentina, where the company recently acquired the leading platform Buenbit and is establishing Buenos Aires as a regional hub with its local team.

Federico Ogue, CEO at Buenbit by Nexo, said: “Argentina’s national team represents the highest level of sporting excellence, built on talent, conviction, and an unrelenting will to win. At Nexo, we share that standard. As we grow our presence in Argentina and across South America, partnering with AFA is a statement of commitment to this region and the clients we serve here.”

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Official partnership ceremony 

The partnership was officially launched at a gala ceremony in Buenos Aires, where Nexo and AFA executives signed the agreement before invited guests, media, and partners. The event marks the formal beginning of the collaboration ahead of the 2026 FIFA World Cup.

Leandro Petersen, Chief Commercial & Marketing Officer of the AFA, said: “We are excited to announce a new partnership with a strong global reach that aligns with the Argentine 

Football Association’s international growth strategy, which we have been building in recent years through agreements with leading companies in innovation and technology.  In this context, Nexo’s arrival as the Official Digital Assets Partner of the Argentine National Team reflects not only the growth of our brand globally but also the growing interest of international companies in partnering with Argentine soccer and one of the world’s most prominent national teams.

Success in elite sports, just as in business, is based on a clear strategy, discipline, and the ability to perform at the highest level when it matters most. Collaborating with partners who share this mindset allows us to continue expanding our ecosystem and create meaningful opportunities to connect our players, our brand, and millions of fans around the world.

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Partnership activations

Nexo is starting a global ticket giveaway campaign for Argentina’s World Cup matches, open to new and existing clients. Signed squad shirts and co-created player content with Messi, Lautaro Martínez, Julián Álvarez, and Nico Paz will be distributed across the campaign window running from May through the end of the tournament. Nexo’s program will incorporate match-day experiences and squad merchandise, such as tier-linked rewards, connecting platform activity directly to the campaign.

Nexo is committed to global premium sport, serving as the Official Crypto Partner of the Australian Open and Summer of Tennis, the Official Digital Wealth Platform of the DP World Tour, and the Official Partner of the Audi Revolut Formula 1 Team.

Ahead of 2026 FIFA World Cup

The partnership adds a further dimension to Nexo’s U.S. relaunch. In February 2026, Nexo re-entered the United States market under a regulated framework, marking its first operational return to the country. Argentina arrives at the World Cup as reigning champions, competing across North American stadiums.

About Nexo

Nexo is a premier digital assets wealth platform designed to empower clients to grow, manage, and preserve their crypto holdings. Our mission is to lead the next generation of wealth creation by focusing on customer success and delivering tailored solutions that build enduring value, supported by 24/7 client care.

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Since 2018, Nexo has provided unmatched opportunities to forward-thinking clients in over 199 jurisdictions. With over $8 billion in AUM and over $403 billion processed, we bring lasting value to millions worldwide. Our all-in-one platform combines advanced technology with a client-first approach, offering high-yield flexible and fixed-term savings, crypto-backed loans, sophisticated trading tools, and liquidity solutions, including the first crypto debit/credit card. Built on deep industry expertise, a sustainable business model, robust infrastructure, stringent security, and global licensing, Nexo champions innovation and long-lasting prosperity.

For more information, visit the official website.

About the Argentine Football Association (AFA)

Founded in 1893, the Argentine Football Association (AFA) is the governing body of football in Argentina and one of the oldest football associations in South America. AFA oversees the Argentine national team — the Albiceleste — three-time FIFA World Cup champions and current title holders, as well as the structure of Argentine club football.

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Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.

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Nauru Appoints Dadvan Yousuf Trade Commissioner for Crypto Push

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Nauru Appoints Dadvan Yousuf Trade Commissioner for Crypto Push

Nauru has appointed crypto entrepreneur Dadvan Yousuf as an international trade commissioner to help advance its digital asset strategy and attract global investment.   

In a statement on Tuesday, President David Adeang said the appointment is part of the Pacific nation’s efforts to strengthen international partnerships and position itself as a hub for virtual asset activity. The government said Yousuf will support cross-border engagement with virtual asset service providers, financial institutions and technology firms.

The move comes less than a year after Nauru passed legislation establishing the Command Ridge Virtual Asset Authority (CRVAA), a dedicated regulator tasked with licensing and overseeing crypto firms, digital banks and other virtual asset activities.

The appointment marks a shift from establishing Nauru’s crypto regulatory framework to actively promoting itself as a jurisdiction for digital asset companies and investment, as the country says it is seeking new revenue streams and greater economic resilience.

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Yousuf has previously been linked to regulatory action in Switzerland. In 2023, the Swiss Financial Market Supervisory Authority (FINMA) said a crypto project he founded sold millions of dollars in tokens without the required license and described the platform as non-operational, issuing cease-and-desist orders.

Source: Republic of Nauru

Nauru expands crypto push with trade appointment

According to the United Nations, Nauru is a Pacific island state in Micronesia, northeast of Australia, with about 21 square kilometers of land and roughly 12,500 people, making it the world’s third-smallest country and smallest island nation.

Adeang said Nauru’s digital asset push is intended to improve economic resilience and living standards while committing to international governance and compliance standards.

He previously said in August 2025 that Nauru, ranked among the most vulnerable to economic and climate shocks, is seeking to change its trajectory through new economic strategies.

Related: IMF guides Andorra to record and monitor Bitcoin transactions

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The appointment adds a new outward-facing element to that strategy by pairing Nauru’s regulatory ambitions with a known figure in crypto circles.

In the announcement, Adeang said Yousuf brings “a unique combination of entrepreneurial vision, international network, and deep understanding of digital asset markets.”

Yousuf had previously attracted attention in the crypto sector after raising a Bitcoin flag atop Mount Everest in 2024. The Bitcoiner said the expedition was intended to highlight disparities in access to financial education.

Nauru surfaced in FTX-linked memo before crypto push

Nauru previously surfaced in crypto headlines in 2023 after court filings in the FTX bankruptcy revealed a memo proposing the purchase of the Pacific island nation using allegedly misappropriated funds. 

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The plan, linked to Gabriel Bankman-Fried, Sam Bankman-Fried’s brother, outlined building a bunker to survive a global catastrophe. However, Gabriel’s representatives denied involvement in drafting or endorsing the plan. 

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