Bitwise CIO Sees Next Crypto Bull Run in Stablecoins and Institutional DeFi

Bitwise Chief Investment Officer Matt Hougan believes that early signs of a new crypto bull market are emerging. According to Hougan, Bitcoin's recent price increase and growing institutional adoption indicate a potential shift in market sentiment.

Hougan pointed out that since July 1, Bitcoin has risen 9%, while the Nasdaq 100 index has dropped 6%. He noted that market sentiment and ETF fund flows have improved, but the market bottom has not yet been confirmed.

The next crypto cycle will focus on the integration of blockchain technology with traditional finance, Hougan said. This includes stablecoins, tokenization, 24/7 trading, instant settlement, and institutional DeFi expanding to a trillion-dollar scale.