Bitwise CIO Matt Hougan pointed out that all the current selling pressure is a one-time sale, causing a short-term liquidity shock. Cryptocurrency is about to end its seasonal period of low liquidity.

In contrast, the inflow of spot Bitcoin ETFs, Bitcoin halving, the change in political attitudes of spot Ethereum ETFs, and the prospect of a Fed rate cut have all created a better long-term environment for cryptocurrencies. Coupled with the strong growth of the stablecoin market, Layer2 development, and the increasing participation of institutions such as BlackRock in the field, the right combination of developments in the second half of the year may easily push Bitcoin to $100,000 and push ETH to a record high.

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