We investigate the presence of value and momentum effects in the cryptocurrency market using the most comprehensive dataset to date, covering over 4,000 coins from 2010 to 2024. Applying the cross-asset pricing framework of Asness et al. (2013), we construct return-based value and momentum signals consistent with traditional asset classes. We find a strong and persistent value premium in cryptocurrencies, particularly among smaller coins and in equal-weighted portfolios. In contrast, standard cross-sectional price momentum strategies consistently underperform, exhibiting a long-term reversal pattern. However, when returns are smoothed using a 200-day moving average, momentum effects re-emerge with statistical significance, suggesting that short-term noise and volatility obscure underlying momentum dynamics. The interaction between value and momentum is weak, and crypto factors show little correlation with their traditional counterparts. Nonetheless, we find that crypto momentum strategies are sensitive to funding liquidity shocks in broader financial markets, indicating growing cross-market linkages. Our results challenge the universality of traditional factor models and underscore the need for models that account for noise and structural frictions in emerging digital asset markets.