TLDR:
- The cartoon illustrates the hopes of the end of the crypto winter becoming real.
- The approval of 11 companies to offer spot Bitcoin ETFs by the SEC has fueled the joy across the crypto world.
“Thawing” by Iantoons is a cartoon that depicts the hopes of the end of the crypto winter becoming real. The cartoon highlights that there have been many crypto projects that have hibernated and investment funds that have not allocated capital over the last year, waiting for the moment when the retail market comes roaring back. The approval of 11 companies by the SEC to offer spot Bitcoin ETFs has fueled the joy across the crypto world. This has led to a narrative that the momentum behind crypto, the upcoming Bitcoin halving, institutional interest in real-world asset tokenization, and the resurgence of Web3 gaming are all signs that the industry is moving into the next bull market.
However, there is a counter-narrative that suggests that this excitement may be the industry hyping itself up in the hope that the disinterested majority will notice. It’s worth noting that only 60 million Americans have a 401K that could benefit from the Bitcoin ETFs. It is also suggested that macro events such as lowering inflation and interest rates are more likely to set off the starting gun for a broader revival of higher risk assets rather than the crypto industry itself.
Overall, the cartoon captures the hope and excitement within the crypto industry that the end of the crypto winter may finally be here. However, it also highlights the skepticism and the need for broader macroeconomic factors to lead the way for a revival of higher risk assets.
