**[Bitwise: Extreme Anxiety Indicates Crypto Market Nearing Bottom]** Odaily Planet Daily reports that Bitwise Chief Investment Officer Matt Hougan pointed out that investors who bought during the 2018 market low achieved returns of approximately 2,000%, while those who entered at the 2022 low saw gains of around 300%. For long-term investors, the company believes the current disconnect between prices and industry progress is a repetition of these specific cycles. Matt Hougan argues that the world is becoming increasingly digital and requires non-fiat currencies. He cites examples such as the rise of stablecoins, the development of tokenization, the emergence of prediction markets, and "AiFi" to demonstrate that the ecosystem is maturing. Although current prices do not reflect these advancements, the ongoing integration of Wall Street and blockchain technology suggests that fundamentals will eventually drive the next wave of growth. Bitwise has identified several potential catalysts for recovery, including the possible passage of the CLARITY Act, a shift in market sentiment toward risk appetite, rising expectations of interest rate cuts, and technological breakthroughs in the intersection of AI and crypto. In the absence of sudden positive shocks, Bitwise expects the market to "grind along the bottom." (CoinDesk)