According to ChainCatcher news, Bitwise Chief Investment Officer Matt Hougan expressed his views on X, detailing why he believes the current bullish trend in the cryptocurrency market will continue.
Although the Federal Reserve's latest policy statement caused a short-term shock to the market—reducing the interest rate cut expectations for next year from 4 times to 2 times, Hougan believes this is merely a brief interlude in the bull market process. He pointed out that the cryptocurrency market has developed an endogenous momentum independent of Federal Reserve policy, and currently there are four core trends continuously driving the industry's development:
Washington's regulatory attitude has clearly shifted to positive support
Institutional investors are accelerating their entry, and ETF funds continue to flow in
Government and corporate institutions are strategically increasing their holdings of Bitcoin
Programmable blockchain technology has made breakthrough progress
From a technical perspective, Bitcoin's 10-day exponential moving average (approximately $102,000) continues to stay above the 20-day moving average (approximately $99,000). Hougan stated that this classic technical indicator has historically been able to reflect market trends well.
Hougan emphasized that the cryptocurrency market is in a new multi-year bull market cycle, and the expected 50bps interest rate cut will not change this.
