🐻 Is the Bear Market Officially Over? Bitwise's View

Bitwise Chief Investment Officer Matt Hougan firmly believes: We've bottomed out. He compares the current situation to early 2023—when the market looked terrible after the FTX crash, but Bitcoin ultimately rebounded from $16,000 to $98,000.

Why Now is the Perfect Time (Bitwise's Version):

A classic divergence is being observed: asset prices are falling while fundamentals are surging, a classic signal that the market has bottomed out.

4 Key Signs of Market Strength:

Network Records: Activity on Ethereum and Layer 2 networks is at all-time highs.

Crypto Business Revenue Growth: Crypto companies are growing revenue faster than many traditional stock market giants.

Stablecoin Boom: Stablecoin market capitalization has surpassed $300 billion, a new all-time high.

DeFi Victory: Trading volume on decentralized exchange Uniswap is now consistently outpacing Coinbase's metrics.

What's Next?

While macroeconomists like Luke Gromen have warned that Bitcoin could fall to $60,000 due to the trade war, Bitwise is betting on catalysts including the passage of the Clarity Act, a "supercycle" for stablecoins, the appointment of a new Federal Reserve Chairman, and opportunities for large brokerage clients to access spot ETFs. VanEck analysts agree, expecting growth in risk assets in the first quarter of this year. 💬 Which side are you on? Are you waiting for Bitcoin to drop to $60,000 to buy, or do you believe the bull market has begun? Share your thoughts in the comments! 👇 #Bitcoin #Bitwise #CryptoNews #BullRun #DeFi