Following the US Federal Reserve’s recent 25-basis-point rate cut, Bitcoin’s price saw a sharp pullback, but market experts like Bitwise CIO Matt Hougan remain optimistic about the asset’s long-term prospects. The Fed’s Chair Jerome Powell added that the central bank cannot hold BTC under current regulations, which triggered significant market reactions and price drops.
Despite this, Hougan believes that Bitcoin’s fundamentals remain strong due to internal factors such as institutional adoption, pro-crypto policy shifts, and government and corporate Bitcoin purchases. Technical indicators also remain favorable, and Hougan predicts that Bitcoin will continue its upward trajectory in the multi-year bull market, unfazed by rate cuts.
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