Bitwise CIO Matt Hougan Predicts the Next Crypto Bull Market Will Be Driven by Stablecoins, Tokenization, and Institutional DeFi

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Bitwise CIO Matt Hougan said Bitcoin market news shows early signs of a new bull cycle, driven by institutional adoption, stablecoins, and tokenization. Bitcoin rose 9% since July 1, while the Nasdaq 100 fell 6%. Institutional adoption is accelerating, with DeFi and tokenized assets gaining momentum. Hyperliquid and Robinhood are expanding on-chain finance, with Robinhood Chain launching on July 1 to support tokenized stocks and DeFi.

Bitwise Chief Investment Officer Matt Hougan stated that strengthening Bitcoin momentum, ETF demand, and institutional adoption are early signs of a new crypto bull market, driven by tokenization, stablecoins, and blockchain-based financial markets. Since July 1, Bitcoin has risen 9%, while the Nasdaq 100 has declined 6%. The next crypto cycle will focus on the convergence of blockchain technology with traditional finance, including stablecoins, tokenization, 24/7 trading, instant settlement, and institutional DeFi expansion. Matt Hougan views Hyperliquid and Robinhood as pathways to on-chain finance: nearly half of Hyperliquid’s trading volume comes from traditional assets such as crude oil, silver, and the S&P 500, while Robinhood launched Robinhood Chain on July 1 to support tokenized stocks and DeFi services.

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