TL;DR:
- Matt Hougan claims that the current bear market actually began in early 2025.
- Gold seeks to consolidate above $4,971 while Bitcoin struggles against the $80,000 resistance.
- Analysts debate whether the “digital gold” narrative will drive an imminent rebound in crypto assets.
The crypto sector is currently in a phase of indecision, with investors cautiously monitoring commodities. This scenario seems to mark the end of the crypto winter and Bitwise projections, which have taken center stage following statements by Bitwise Chief Investment Officer, Matt Hougan.
Hougan asserts that the sentiment of despair and malaise currently flooding the market is a characteristic sign that the bearish cycle is coming to an end. He argued that, although 2024 appeared to be a bullish year driven by the momentum of ETFs, the real contractive trend has actually lasted for over a year.
On the other hand, the price of Bitcoin is struggling to break through the $80,000 barrier, which is now acting as a solid technical resistance. This lack of momentum contrasts sharply with the rally in precious metals, where gold has rebounded strongly in search of new all-time highs.
Metals vs. Bitcoin: Capital Rotation at Play
Typically, gold and Bitcoin alternate their growth cycles, and several analysts suggest that the turn for the pioneer cryptocurrency is about to arrive. However, critical voices warn that Bitcoin could lose value against gold due to a structural rotation of capital.
As the precious metal recovers to nearly $5,000, stock market sensitivity adds an extra layer of complexity to the global financial ecosystem. The decline of major tech stocks has kept traders on constant alert, directly impacting available liquidity.
In summary, despite the prevailing pessimism, expert voices at Bitwise suggest that the fundamentals of blockchain technology remain intact in the face of volatility. Therefore, Bitcoin is expected to return soon, driven by a comeback of institutional confidence and the exhaustion of mass sell-offs.
