Based on DL News, Bitwise chief investment officer Matt Hougan said Bitcoin is near the bottom of a six-month correction with 'not much downside left.' Bitcoin was trading around $92,000 on Thursday, down over 25% from its October highs. Hougan acknowledged the firm underestimated selling pressure at $100,000 and the impact of the four-year cycle narrative. Despite the selloff, he remains bullish, citing upcoming catalysts like Bitcoin ETF access via Vanguard and Bank of America, and the Fed ending quantitative tightening.
Bitcoin Price Near Bottom of Six-Month Correction, Bitwise CIO Says
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