Bitwise CEO: Bitcoin currently lacks a clear 'Schelling point price catalyst' Odaily Planet Daily News: Hunter Horsley, CEO of Bitwise, recently stated in an article on X platform that one of the core problems currently facing Bitcoin is the lack of a "Schelling point price catalyst" capable of forming consensus. Horsley explained that the so-called "Schelling point catalyst" refers to a key event that, once implemented, is widely recognized by the market as a decisive positive, significantly driving up the price of Bitcoin. In the past few years, such catalysts have appeared multiple times: in 2023, the market focus was on whether Bitcoin spot ETFs were approved; In the first half of 2024, the focus shifted to the actual inflow of funds into Bitcoin ETFs; In the second half of 2024, the expected improvement in the US presidential election and regulatory environment for the cryptocurrency industry will become the core narrative; Whether to establish a national level Bitcoin strategic reserve in the first half of 2025 has sparked discussions; Subsequently, the rapid rise of Bitcoin asset management companies became a new market focus. He pointed out that after entering the first half of 2026, if multiple industry practitioners are asked about the key factors driving a significant increase in Bitcoin prices in the coming year, they often receive scattered and even contradictory answers, including vague trend judgments such as "institutional adoption". Horsley believes that overall, a single, uncertain catalytic event is no longer able to dominate the entire market trend, which is itself a reflection of the industry's gradual maturity. However, at the same time, it has also created a "attention vacuum" at the market narrative level, lacking a unified focus. He concluded that this seemingly subtle change is actually one of the important reasons for the sustained weak market sentiment.