Bitwise CIO Claims Bitcoin Bear Market May Have Bottomed Out

Bitwise Chief Investment Officer Matt Hougan stated that Bitcoin is signaling important "bottoming signals," as the market's reaction to bad news has weakened. Recently, despite Michael Saylor selling Bitcoin and the probability of the CLARITY Act passing significantly decreasing, Bitcoin did not experience a notable decline and even saw a counter-trend increase. Hougan believes this typically indicates that the bear market may be nearing its bottom. He anticipates that by the end of this year, the crypto market could see stronger momentum, with the next wave of significant buyers coming from large wealth management platforms. This bull market may be slower, less volatile, and more institutionalized compared to previous bull markets driven by retail investors.

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