Wintermute says crypto liquidity concentrated in BTC, ETH, and a handful of majors as ETF and treasury channels shaped where capital landed.
Wintermute OTC data shows crypto liquidity clustered in BTC and ETH as broader altcoin rallies faded in 2025
Wintermute says crypto liquidity concentrated in BTC, ETH, and a handful of majors as ETF and treasury channels shaped where capital landed.