According to BlockTower founder Ari Paul, crypto markets are at a critical juncture and face two sharply different outcomes.

50/50 Between Structural Top And Macro-Driven Recovery

Paul on X outlined two “steelman” scenarios to explain the ongoing rangebound and weak price action.

Scenario A: The cycle top may already be in, potentially for this generation of crypto assets.

Crypto has benefited from peak tailwinds, including mainstream awareness, political support and looser regulation.

Yet real-world adoption remains limited.

Institutional and national experiments, including El Salvador’s Bitcoin initiative, have delivered mixed results, and many corporations have tested crypto without…

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