Gold 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 persist. Despite the Federal Reserve's latest policy statement causing a short-term shock to the market—reducing the expected interest rate cuts next year from four to two—Hougan thinks 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 policies, and there are currently four core trends continuously driving the industry's development: Washington's regulatory attitude has clearly shifted to actively support, institutional investors are entering the market at an accelerated pace with continued inflows into ETFs, governments and corporate institutions are strategically increasing their holdings of Bitcoin, and significant breakthroughs have been made in programmable blockchain technology. From a technical perspective, Bitcoin's 10-day exponential moving average (around $102,000) continues to hold above the 20-day average (around $99,000). Hougan noted 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.