T. Rowe Price crypto head Blue Macellari on Thursday argued AI has pulled the marginal crypto buyer away from crypto, and institutional adoption is moving too slowly to fill that gap.
How AI Stole Crypto’s Marginal Buyer
She also pointed to a sugar high wearing off. From the launch of the first Bitcoin ETFs through last summer, crypto received unprecedented positive news almost every week.
A new administration, a new SEC, fresh regulatory guidance, and wave after wave of institutional adoption announcements kept sentiment running hot.
That pace was impossible to sustain, and the market has been digesting the slowdown ever since.
Moreover, she acknowledged the October crash itself remains a mystery. “I don’t feel like I’ve heard something where I was like, ‘Oh okay, that was it, that makes sense to me,'” Macellari said.
