Zenith Horizon Capital

The cryptocurrency market has entered a severe downturn, with Bitcoin plummeting below $20,000 for the first time since late 2020. This “crypto winter” follows the collapse of Terra Luna and its algorithmic stablecoin UST, which erased over $40 billion in market value and triggered contagion throughout the industry. Several major lending platforms, including Celsius and Voyager, have frozen withdrawals as they face liquidity crises. Industry veterans urge calm, pointing to previous bear markets that ultimately led to innovation and stronger market infrastructure.