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BTC $65,652.63 -0.35%
ETH $1,920.79 +0.23%
BNB $569.84 +0.16%
XRP $1.12 +0.11%
SOL $77.41 +0.25%
TRX $0.3288 +0.06%
DOGE $0.0724 +0.04%
ADA $0.1741 +1.72%
BCH $217.53 -1.88%
LINK $8.57 -0.63%
HYPE $58.84 +0.14%
AAVE $97.29 +1.39%
SUI $0.7662 +0.89%
XLM $0.1843 -2.44%
ZEC $513.82 -0.82%

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Bitwise CIO: The crypto market shows signs of bottoming out, with the next bull market driven by the integration of on-chain and traditional finance

Bitwise Chief Investment Officer Matt Hougan published an analysis, stating that the crypto market is showing signs of a bottom ------ since July 1, Bitcoin has risen by 9% while the Nasdaq has fallen by 6%, ETF fund flows have turned positive, and market sentiment has improved. Hougan believes that the next bull market will be driven by the integration of on-chain finance and traditional finance, with the core sectors being stablecoins, tokenization, 24/7 trading, instant settlement, and institutional DeFi.He suggests focusing on two types of opportunities: one type is crypto-native applications represented by Hyperliquid (HYPE) ------ which have real revenue and a strong token economic model (99% of revenue is used for buybacks and burns of HYPE), which has risen 146% this year; the other type is traditional financial institutions represented by Robinhood (HOOD) ------ whose Layer2 blockchain Robinhood Chain attracted over $300 million in deposits within two weeks of launch, processing an average of 3.6 million transactions daily, supporting 24/7 trading of tokenized stocks for users in 120 countries. Hougan is optimistic about mainstream assets such as Bitcoin, Ethereum, and Solana, as well as crypto stocks, while also paying attention to institutions like Coinbase, Figure, BlackRock, Visa, Stripe, and JPMorgan that are scaling up in the crypto space.
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