Is the crypto cycle already over? Ben Cowen returns to break down what a post-euphoria cycle looks like, why Bitcoin may have already topped, and how 2026 could play out across crypto, stocks, and macro. We explore the case for a prolonged bear market, why a true alt season may not arrive, and the narrow scenarios where Ethereum could still make a fleeting run at new highs. From Fed policy and labor markets to AI stealing investor attention, this episode maps the competing paths ahead and what patient investors should be watching next.
------
📣INTO THE CRYPTOVERSE | GET 10% OFF
https://intothecryptoverse.com/ref/bankless/
------
BANKLESS SPONSOR TOOLS:
🔵COINBASE | ETH & BTC BACKED LOANS
https://bankless.cc/coinbase-borrow
🪙FRAXNET | MINT, REDEEM, & EARN
https://bankless.cc/fraxnet
🦄UNISWAP | CONTINUOUS CLEARING AUCTIONS
https://bankless.cc/uniswap-cca
🛞MANTLE | GLOBAL HACKATHON 2025
https://bankless.cc/mantle-hackathon
💤EIGHT SLEEP | IMPROVE YOUR SLEEP
https://bankless.cc/eight-sleep
------
TIMESTAMPS
0:00 Intro
0:49 Bitcoin's Cycle & its Implications
2:18 Ethereum's Performance & Expectations
8:58 Future Predictions for Ethereum
10:39 Comparing Ethereum to Tesla
12:32 The State of the Altcoin Market
18:26 Disappointment & Hope for ETH Holders
20:23 Macro Factors Affecting Crypto
24:37 Why No Euphoria This Cycle?
32:56 The Shift of Investor Attention
37:56 The Future of Crypto Cycles
44:16 The Need for Utility in Crypto
56:14 Gold vs. Bitcoin: A Comparison
59:45 Bitcoin's Unique Position in the Market
1:02:31 Patience and Strategy for Crypto Investors
1:06:01 Closing & Disclaimers
------
RESOURCES
Ben Cowen
https://x.com/intocryptoverse
Ben’s Channel
https://www.youtube.com/@intothecryptoverse
------
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
