Selective Repricing Supplants Altcoin Seasons

Bitwise Chief Investment Officer Matt Hougan believes that the broad, indiscriminate altcoin rallies of previous crypto cycles are not coming back. Speaking in a recent interview, Hougan said future market rotations will favor tokens with real-world traction and business utility over those without.

Hougan projects that certain tokens tied to 'huge businesses' will see selective repricing, while others will be left behind. This shift would mark a departure from the traditional cycle pattern where Bitcoin reaches new highs, capital rotates into Ethereum, and then flows into altcoins more broadly.

BTC appears to be 'starting to bottom and trend higher' after falling as low as $60,000 in February, according to Hougan. The current price of BTC is around $70,237, CoinMarketCap reports.