Is Bitcoin finally nearing a bottom? Bitwise CIO Matt Hougan answers

Bitcoin may be nearing a market bottom, according to Bitwise Chief Investment Officer Matt Hougan, who pointed to months of subdued price action, investor apathy and a lack of sellers as signs that the cryptocurrency could be close to turning a corner.

In an interview with Bitcoin Magazine, Hougan said he believes the world’s most popular cryptocurrency is near a bottom and suggested the current market could be consistent with Bitcoin’s four-year cycle.

“Well, I think we are near a bottom,” Hougan said.


For Hougan, one of the clearest signals is how uneventful the market has become.

“Boring, which is what the market has been, is beautiful,” he said, adding that periods of boredom and apathy are often associated with the end of crypto bear markets.

“Crypto bear markets end in apathy,” Hougan said. “That definitely feels like where we’re at.”

He also pointed to Bitcoin’s ability to shrug off negative news without a significant breakdown. According to Hougan, the cryptocurrency has been “treading water” for a couple of months, which he described as a positive sign.

“There’s no more sellers left in Bitcoin,” he said.

Hougan also suggested that the market could be building toward a period of volatility, potentially to the upside.

“It looks a little bit like some coiled volatility in there that may come up on the upside,” he said.

Based on those factors, Hougan said he remains optimistic about Bitcoin’s performance for the remainder of the year.

“So, when I look at the market today, I’m feeling pretty optimistic about where we go for the rest of the year,” he said.

Bitcoin rallies as Trump calls for CLARITY Act

Meanwhile, Bitcoin has been buzzing in trading today after US President Donald Trump delivered remarks alongside technology leaders, including crypto executives.

Trump called on Congress to pass the Crypto CLARITY Act and said the Commodity Futures Trading Commission is working on bringing Hyperliquid to the US market.

At last check, Bitcoin was trading at $71,647, up 11.33%, according to CoinMarketCap data. The cryptocurrency has fluctuated between $64,307 and $71,725 over the last 24 hours. Bitcoin’s market capitalization stood at $1.43 trillion.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)