Bitwise CIO Says Bitcoin Nearing Bottom As Retail Desperation Signals End Of Crypto Selloff

Benzinga

Bitcoin dropped below $100,000, triggering renewed fears of a prolonged crypto downturn. Bitwise CIO Matt Hougan said retail investors are in “max desperation” mode but believes institutional demand and ETF inflows could push Bitcoin to new highs, potentially reaching $125,000–$130,000 by year-end.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Bitcoin fell below $100,000 this week, its lowest level since June,

00:06sparking renewed fears of a prolonged crypto winter, according to CNBC.

00:10Bitwise CIO Matt Hogan said retail investors are in max desperation mode,

00:14signaling that crypto prices may be close to bottoming up.

00:17He believes institutional support and growing crypto ETF adoption

00:20could push Bitcoin to new record highs before the end of the year.

00:24Hogan described the current crypto landscape as a tale of two markets,

00:27with retail investors deeply pessimistic, while institutions remain optimistic.

00:32He said institutional investors and financial advisors are still eager to allocate to crypto,

00:36doing the downturn as a temporary sediment flush for a potential rebound.

00:40Hogan said Bitcoin could reach new all-time highs by year-end,

00:43potentially rising between $125,000 and $130,000.

00:47For all things money, visit Benzinga.com.

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