The crypto market is undergoing a healthy consolidation, with the 'copycat' treasury model bubble deflating. Undercapitalized companies that bought high with bad debt will be 'washed out' in the near future (within the next year or so).
"We are likely witnessing a healthy consolidation. The Treasury model isn't broken, but the copycat model is. In 2025, it was just too easy. Any company could just buy some coins and watch their stock pump. That was a bubble. Now that bubble is deflating. The undercapitalized players, the ones who bought high with bad debt, they're the ones that are going to get washed out."
