CoinVoice has recently learned that 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 next year's interest rate cut expectations 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, with four core trends continuously driving industry development at present:
Washington's regulatory stance has clearly shifted to actively support accelerating institutional investor participation, with continuous inflows into ETFs. The government and corporate institutions are strategically increasing their holdings of Bitcoin, and breakthroughs have been achieved in programmable blockchain technology.
From a technical perspective, Bitcoin's 10-day exponential moving average (around $102,000) continues to stay above the 20-day average (around $99,000). Hougan stated that this classic technical indicator has historically reflected market trends quite well.
Hougan emphasized 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]
