Bitwise CIO：比特币或已见底，以太坊将迎爆发

I actually think there's a bigger story going on.

Do not be fooled. Crypto holders, take two seconds, smash the like button. Let's get this information out there to as many people as possible because according to Bitwise CIO Matt Hogan, he explains to Bloomberg Crypto why Bitcoin has bottomed plus the number one catalyst that sends Bitcoin higher into end ofear. In fact, he believes we may see a strong end of year. Send today's video to somebody who believes Bitcoin is going lower.

My name is Aaron. This is Altcoin Daily. You subscribe for daily videos keeping you informed on crypto. Here's Matt Hogan giving his thesis on what happens for the rest of the year.

I actually think there's a bigger story going on. We've seen over the last few months that negative news hasn't harmed Bitcoin at all. When Michael Sailor started selling Bitcoin, Bitcoin held flat. When Stretch traded down to 75, Bitcoin held flat. When the Clarity Act odds fell from the mid40s into the teens, Bitcoin was rallying. One sign that you're at the bottom of a bare market is when an asset stops responding to bad news.

In a bare market, it tends to overrespond to be bad news and ignore good news. We're in the reverse right now. We're ignoring bad news. We're maybe overindexing to good news. I think it's a sign that we may be at the bottom of this crypto winner and that we may have a strong end of the year.

So then if if we if you think we're at the bottom and we have a strong uh end to the year, what would be the next catalyst in your view that could actually move this asset higher?

Yeah, I think actually it's a quiet catalyst underneath the surface which are these large wealth management platforms. I really think that is the next marginal buyer of Bitcoin coming into the market and that's not a one minute catalyst. That's something that takes place over time. You know, over the past few months, despite a market that's down 50% from its all-time high, we've seen a number of major wealth management platforms approve our spot Salana ETF, Bisel.

The reason for that is not FOMO, it's merit. It's these advisers that want to be part of this asset class. I was just at a major wealth management conference yesterday. They are still extremely bullish. They're talking about 2 to 4% allocations. Look, I think this bull market is going to be slower, less volatile, and more institutional than bull markets in the past, but it's also going to be building a stronger foundation for the asset that's going to lift us higher over time.

And make no mistake about it, we are seeing adoption happen right before our eyes. Breaking news, Goldman Sachs acquires 1 billion Bitcoin ETF in a takeover deal. Goldman Sachs is buying the products to be leaders in the crypto game. Fidelity building out as well. Bullish 7.8 trillion Fidelity to enable ETH staking and quarterly cash payouts for its spot ETH ETF. And it is clear I'm bullish on Bitcoin. I'm bullish on Salana. but to not be bullish on Ethereum during the cycle where Wall Street is adopting Ethereum.

This is Bitwise CIO Matt Hogan's thesis on Ethereum. And then I'll give you my thesis on Ethereum for the rest of the year. Listen, look, Ethereum is the leading play on stable coins and tokenization, which are huge markets. I think it's their market to lose on stable coins and tokenization. So, I'm very bullish on ETH and own a lot of it. It's the second largest position obviously in our largest uh our crypto index fund.

Um very very bullish. The market is is is particularly on tokenization. Um I think skeptical of the degree to which Wall Street is turning towards tokenization as the future. I mean you do have the chair of the SEC saying the entire market will move on blockchainbased rails and you have the CEO of the largest asset manager saying every asset will be tokenized. And yet people still talk more about stable coins than they do about tokenization.

Tokenization is a bigger market. There's hundred trillion dollars of equities. There's more of that of bonds. There's even more of that in real estate. Those are enormous markets. And you know the New York Stock Exchange, NASDAQ, CBOE, BlackRock, Goldman Sachs, JP Morgan, they're all focused on this space. I just think it will happen faster than people think. You know, I I as mentioned come from the ETF industry. People were hugely skeptical of that. uh as an evolution in financial markets and I see the same sort of like grassroots level adoption there that I'm seeing in tokenization.

So I think I think people are underestimating the the uptick. So understand what's happening underneath our noses. Ethereum ETF flows just flipped. Institutions keep buying Ethereum. US spot Ethereum ETFs just recorded 244 million in weekly net inflows, their fifth consecutive positive week. Cumulative net inflows are in the tens of billions and ETFs are only one part of the institutional Wall Street buildout. Black Rockck is tokenizing funds on Ethereum.

JP Morgan has launched tokenized funds on Ethereum. Ethereum leads tokenized ETFs with 52% market share. Ethereum hosts roughly 148 billion stable coins projected to grow greatly. I own Salana. I like Salana. I'm bullish on Salana. But if you want to know the reason why Wall Street isn't doing this on Salana, latest Salana nearly halted today after a routing glitch knocked 29% of staked soul offline coming within 20 million tokens of the 1/3 threshold that would have frozen the entire network.

Salana's okay. This kind of stuff happens on Salana all the time. Again, I'm still bullish. Salana for commerce, Ethereum for institutions, but this is just one of the reasons why so much big money is choosing Ethereum. So, let's talk about where Ethereum's price goes next. We can all agree Ethereum easily gets back to all-time highs going forward, right? We can all agree on that. That would be about a 200% increase from the lows.

According to expert trader Michael Vandipop, Ethereum looks so ready for a big breakout upwards. Great consolidation and it keeps making higher lows. Volatility is low, range is tight, meaning that the breakout will be super volatile. Once it does, I don't think it will stall soon. The ideal moment to be positioning yourself into Ethereum is literally right now. Everyone is waiting for that ultimate confirmation, but that never comes.

Previous breakouts of the market have resulted into generally big returns as Ethereum is known for volatile movements. In that sense, the last time a 60% breakout took place in less than a week and then in 2023, the same thing happened and here we are now. I wouldn't be surprised if we don't see the exact same thing in the next month. A rally to 3,000 in a matter of days slashw weeks. Now, let's talk about Ethereum beyond one year.

Let's talk about Ethereum in terms of the next 5 to 10 years. Hey Grock, Ethereum is now 11 years old and still in its early days in terms of long-term investments. Here's the chart. What three stock charts at the same age of 11 does this remind you most of? This is interesting. This is very interesting. Amazon in 97 to08, Netflix 02 to13, Tesla 10 to2 each shows the same early multicycle boom bust pattern of parabolic runs, deep draw downs and recovery while the underlying growth story was still just getting started.

This is the Amazon chart that was referenced 97 to08. This is Netflix 02 to13. This is Tesla 10 to 21. And obviously after all of these periods, we really saw an explosion. All three of those are giant powerhouse stocks. Grock, do you think ETH has that same long-term potential? He says yes. Ethereum mirrors that pattern. Multicycle volatility while the core platform expands. Network effects, smart contracts, L2 scaling, and real usage in DeFi and tokenization give it comparable long-term infrastructure potential as those stocks built theirs.

Execution and adoption will decide just as they did for Amazon, Netflix, and Tesla. But it does sound promising. Agree