Crypto Markets Show Early Signs of Renewed Strength Amid Convergence of Blockchain and Traditional Finance

Crypto markets are showing early signs of renewed strength, according to Bitwise Chief Investment Officer Matt Hougan.

Hougan noted that bitcoin gained 9% since July 1 while the Nasdaq-100 fell 6%, citing improving sentiment and stronger ETF flows as indicators of a potential crypto bull market.

The executive believes the next crypto cycle will focus on the convergence of blockchain technology and traditional finance, rather than another cycle driven mainly by speculation.

Hougan pointed to Hyperliquid and Robinhood as two companies leading this convergence from different directions. He stated that nearly half of Hyperliquid's volume now comes from traditional assets such as oil, silver, and the S&P 500, highlighting the platform's expansion beyond crypto markets.