Bitcoin

This reflects a systemic shift where traditional asset managers are building private market infrastructure as a risk-mitigation strategy during macro uncertainty. When combined with the current 72.3% BTC dominance, it exacerbates altcoin underperformance and reduces liquidity in public crypto markets, creating a negative feedback loop that could prolong the bear market by 3-6 months.

Magellan Financial Group Ltd. announced a merger with Barrenjoey Capital Partners to expand private markets offerings for customers.