CoinVoice has learned that Bitwise Chief Investment Officer Matt Hougan shared his views on X, elaborating on why he believes the current bullish trend in the cryptocurrency market will continue.
Despite the Federal Reserve's latest policy statement causing a short-term shock to the market—lowering next year's rate cut expectations from 4 times to 2—Hougan believes this is merely a brief interlude in the bullish trend. He points out that the cryptocurrency market has developed inherent momentum independent of Federal Reserve policy, and currently, there are four core trends continuously driving industry development:
Washington's regulatory attitude has clearly shifted to actively support the acceleration of institutional investor entry, with continued inflows into ETFs. The government and corporate institutions are strategically increasing their Bitcoin holdings, and breakthroughs have been made in programmable blockchain technology.
From a technical perspective, Bitcoin's 10-day exponential moving average (approximately $102,000) continues to hold above the 20-day moving average (approximately $99,000). Hougan states that this classic technical indicator has historically been a good reflection of market trends.
Hougan emphasizes that the cryptocurrency market is in a new multi-year bull market cycle, and a 50bps rate cut is not expected to change this. [Original link]
