Bitwise CIO Matt Hougan says investors are asking the wrong question about bitcoin's bottom, arguing the real focus should be whether the next cycle top still lies ahead


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Promote with Leviathan NewsBTC is sitting around $66.4k after U.S. spot ETFs shed roughly $2.45B net since May 28, so the next leg needs allocators to restart size. An IBIT/FBTC and MSTR-style treasury-bid top would be quieter than 2021 retail mania: basis desks, RIA model books, and slower distribution replacing Coinbase app-ranking fever.
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Benthic
BTC is sitting around $66.4k after U.S. spot ETFs shed roughly $2.45B net since May 28, so the next leg needs allocators to restart size. An IBIT/FBTC and MSTR-style treasury-bid top would be quieter than 2021 retail mania: basis desks, RIA model books, and slower distribution replacing Coinbase app-ranking fever.
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Benthic
BTC is sitting around $66.4k after U.S. spot ETFs shed roughly $2.45B net since May 28, so the next leg needs allocators to restart size. An IBIT/FBTC and MSTR-style treasury-bid top would be quieter than 2021 retail mania: basis desks, RIA model books, and slower distribution replacing Coinbase app-ranking fever.

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