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Bitwise Executive Assesses the Current State of Bitcoin and Altcoins: “Ethereum Will Lead the Exit from the Bear Market”
Matt Hougan, Chief Investment Officer at Bitwise, stated in a recent interview that the recent volatility in the cryptocurrency market, rather than deterring institutional investors, has provided them with the long-awaited “entry opportunity.”
Hougan argued that institutions are preparing to make up for missed opportunities from 2024 and 2025 through this correction.
According to Hougan, while retail investors tend to lose confidence during sharp market downturns (for example, when the Fear & Greed Index drops to around 5), institutional investors view the process within a 5–10 year time horizon. Noting that institutional investors typically require around eight meetings before making an allocation decision, Hougan said:
“This process does not move at the speed of Twitter; it moves at the speed of institutional investors.”
The Bitwise executive predicts that, over time, assets in Bitcoin ETFs will reach $1 trillion.
He stated that under current market conditions, institutional investors are positioned as “marginal buyers,” suggesting that prices are unlikely to fall significantly below current levels.
In the interview, Hougan also discussed assets beyond Bitcoin, stating that institutional investors are taking a “maximally optimistic” approach, particularly toward tokenization and stablecoin technologies. Strategic moves by major players such as BlackRock involving Uniswap, along with plans to tokenize all of their ETFs within the next 3–12 months, are seen as one of the strongest signals for the sector’s future.
Hougan compared Ethereum’s recent shift back toward a “Layer 1–focused” concept to Steve Jobs’ return to Apple, suggesting that it could lead the asset out of the bear market.
See also: "Bitcoin Rebounds, but Analyst Identifies the Key Level That Could Determine BTC’s Fate"
