BlockBeats News, February 6 — Hunter Horsley, CEO of Bitwise, said in an interview with CNBC, "Bitcoin has experienced a double-digit decline in a single day and is currently in a bear market, with a year-to-date drop of nearly 30%. As for the reasons, I believe the current crypto market is being swept up by the overall macro environment, with investors selling off all liquid assets. Gold is falling, the Nasdaq 100 is declining, and Amazon is also being sold off.
In the past few months, there have indeed been some internal factors in the crypto space, such as disruptions on certain offshore trading platforms. But at present, crypto assets are mostly trading and fluctuating in tandem with other high-liquidity assets.
I think long-term holders are feeling uncertain; meanwhile, new institutional investors see this as a ‘second opportunity,’ recognizing prices they once thought they would never get. I believe we are in a transitional phase. Ultimately, crypto assets are still a small-scale asset class, and most investors have not yet fully allocated. Therefore, the overall long-term outlook remains solid, but we are currently experiencing turbulence and fluctuations during this transition period."
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Pi Coin Gains Momentum Ahead of Pi Day as Traders Watch Price
The surrounding activity in the market in terms of Pi Coin Pi Day momentum is revolutionizing as the community gets ready to celebrate one of the most anticipated days in the ecosystem. Traders and advocates of the network are also placing themselves before March 14 which is commonly recognized as P
Coinfomania10m ago
Aptos Shows Momentum: Could APT Break Resistance Soon?
APT tests $1 resistance, forming higher lows and showing steady buyer conviction.
Rising triangle, A/D, and MFI indicators suggest building bullish momentum.
Confirmation above $1 could trigger breakout, but BTC stability and caution remain important.
Aptos — APT, has been gaining
CryptoNewsLand59m ago
Bitcoin Gold Price Soars 12.83%: Institutional Interest Grows
Bitcoin Gold's price surged by 12.83% to $0.554349, reflecting increased market interest, particularly from institutional investors. Active trading indicates growing retail participation. Traders are monitoring key price levels for potential future trends.
Coinfomania1h ago
Bitcoin shows resilience, options market indicates easing of downside concerns
Despite international oil prices rising to $115 and the market shifting to a defensive stance, Bitcoin has shown resilience, with options flow indicating reduced downside concerns. Market optimism towards Bitcoin is returning, with focus on this week's economic data.
GateNews1h ago
'Bull Trap Forming' – Willy Woo Says Bottom Not In for Bitcoin
Willy Woo, an on-chain analyst, warns that Bitcoin's recent rally may be a "bull trap," suggesting the market remains in a downward trend and that the true bottom has not yet been reached. Traders should remain cautious and watch for potential lower prices.
Coinpedia2h ago
Trump says oil prices will quickly fall back, but Bitcoin and the stock market have already been hit
On March 9th, as the "Epic Rage Action" escalated, the global energy markets experienced intense volatility, with oil prices soaring to $116 at one point, raising concerns about supply disruptions through the Strait of Hormuz. Trump predicted that oil prices would fall back, but gasoline prices have already risen to $3.45. The stock and cryptocurrency markets declined sharply, and investors should pay attention to the impact of geopolitical events on the markets and future monetary policies.
GateNews2h ago
