Bitwise CIO Matt Hougan says investors are asking the wrong question about bitcoin's bottom, arguing the real focus should be whether the next cycle top still lies ahead

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BTC is sitting around $66.4k after U.S. spot ETFs shed roughly $2.45B net since May 28, so the next leg needs allocators to restart size. An IBIT/FBTC and MSTR-style treasury-bid top would be quieter than 2021 retail mania: basis desks, RIA model books, and slower distribution replacing Coinbase app-ranking fever.

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Bitwise CIO Matt Hougan says investors are asking the wrong question about bitcoin's bottom, arguing the real focus should be whether the next cycle top still lies ahead

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Bitwise CIO Matt Hougan says investors are asking the wrong question about bitcoin's bottom, arguing the real focus should be whether the next cycle top still lies ahead

More on Bitcoin

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HyperMove launches Bitcoin-backed payment SDK for AI agents, enabling API payments via BTC collateral, x402 rails and vault-secured signing without private keys

BlackRock's new bitcoin income fund offers cash flow alongside BTC exposure.

Capital B builds STRC-style bitcoin credit product for Europe with double-digit yields and sub-10% vol

Bitcoin’s fixed 21M supply cap will halt new issuance by 2140, shifting miner revenues entirely to transaction fees while reinforcing BTC’s scarcity narrative

Franklin Templeton files two Bitcoin DRIP ETFs that reinvest equity dividends into BTC

OpenAI mirrors Bitcoin and Anthropic mirrors Ethereum as AI labs follow the altcoin playbook, raising billions on research narratives and future potential

HyperMove launches Bitcoin-backed payment SDK for AI agents, enabling API payments via BTC collateral, x402 rails and vault-secured signing without private keys

BlackRock's new bitcoin income fund offers cash flow alongside BTC exposure.

Capital B builds STRC-style bitcoin credit product for Europe with double-digit yields and sub-10% vol

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