According to Huoxing Finance, on August 13, Bitwise CIO Matt Hougan, in an interview with Bloomberg, stated that Bitcoin may have reached the bottom of the bear market, as recent negative news—including the Coldcard wallet hack, Strategy’s Bitcoin sales, and setbacks in advancing the CLARITY bill—failed to trigger a significant price decline. Hougan believes that the market’s disregard for bad news is a signal that the bear market may be ending, and he expects institutional inflows, such as the approval of crypto ETFs by wealth management platforms, to serve as the next catalyst for price appreciation.
Bitwise CIO: Bitcoin Price Demonstrates Resilience Amid Recent Bearish News
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Summary
Bitcoin news on August 13 highlights Bitwise CIO Matt Hougan’s view that today’s Bitcoin price demonstrates resilience in a bear market. Speaking to Bloomberg, Hougan said the market’s muted response to recent setbacks—such as the Coldcard hack and delays to the CLARITY Act—suggests the bottom may have been reached. He anticipates institutional inflows, including approvals of crypto ETFs, will drive the next upward move in Bitcoin’s price.
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