Institutionalization to end 'everything rally' in crypto, says analyst

The era of all digital assets rising in unison is likely over, according to Choi Yoon-young, head of the Digital Asset Research Team at Hanwha Investment & Securities. In an interview with the Seoul Economic Daily on May 27, he said the market is expected to reorganize around Bitcoin, with altcoins moving more selectively. Choi identified "institutionalization" as the biggest change in the digital asset market. He added that while the four-year halving cycle was a major focus in the past, the market is now far more influenced by the macroeconomic and liquidity environment. According to his analysis, Bitcoin is solidifying its position as an asset sensitive to macro variables like interest rate cuts and liquidity expansion.