Bitwise CIO: Crypto winter may be coming to an end

Bitwise Chief Investment Officer Matt Hougan stated that since the beginning of 2025, the cryptocurrency market has experienced a long-term downturn, and the current environment should be seen as a comprehensive crypto winter rather than a brief technical correction. He pointed out that the historical crypto winter usually lasts for about 13 months, and this cycle may have shown signs of weakness as early as January 2025. Hougan believes that the market may be closer to recovery and mentions factors such as economic growth, the CLARITY Act, and the adoption of Bitcoin at the sovereign level as catalysts for market recovery.