Golden Finance reported that on December 19, 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. Despite the Federal Reserve's latest policy statement causing a short-term shock to the market—reducing the expectation of rate cuts next year from four to two—Hougan believes this is merely a brief interlude in the bull market process. He pointed out that the cryptocurrency market has developed intrinsic momentum independent of Federal Reserve policy, with four core trends continuously driving industry development: Washington's regulatory attitude has clearly shifted to active support, institutional investor participation is accelerating with continuous inflows into ETFs, government and corporate entities 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 stay above the 20-day moving average (approximately $99,000). Hougan stated that this classic technical indicator has historically reflected market trends well. Hougan emphasized that the cryptocurrency market is in a new multi-year bull market cycle, and the expected 50bps rate cut will not change this.
