The crypto market just hit an inflection point Institutional and retail crypto strategies diverged for the first time since the last bull market Our 1H2025 market outlook shows how this split is reshaping everything from trading patterns to sector flows ↓

Institutional and retail crypto strategies are moving in opposite directions Institutions maintained 67% allocation to BTC and ETH, while retail dropped to 37% as they rotated into altcoins → The widest divergence since 2023 and a clear break from earlier parallel moves

Traditional finance accelerated its crypto adoption at unprecedented levels TradFi institutions are increasingly moving onchain, with tokenized platforms gaining traction and pilot equity offerings underway → This marks a shift from indirect exposure to direct participation

OTC trading demand is accelerating as institutions seek size and discretion Wintermute’s OTC volumes are growing 2.4x faster than overall exchange volumes → This reflects institutional demand for efficient large-trade execution without holding assets directly on platforms