According to ChainCatcher, Bitwise Chief Investment Officer Matt Hougan stated on X that despite the Federal Reserve lowering its interest rate cut expectations from 4 times to 2 times next year, this is merely a brief interlude in the bull market.
Hougan pointed out that the crypto market has developed an endogenous momentum independent of Federal Reserve policies, driven by four major trends: a shift to a proactive regulatory attitude in Washington, accelerated entry of institutional investors, increased holdings of Bitcoin by governments and corporations, and breakthroughs in programmable blockchain technology.
On the technical side, Bitcoin's 10-day moving average remains above the 20-day moving average. Hougan believes this reflects market trends. He expects that a 50bps rate cut will not change the bull market cycle.
