Wall Street · Bitcoin · CoinDesk
Next bull run will be slower, less volatile as investors' crypto appetite evolves, Bitwise CIO says
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Any recovery in the crypto market is likely to take longer than traders expect because Wall Street investors and advisory firms are now focusing on real-world applications, such as tokenization, and artificial intelligence rather than straight digital assets, according to Matt Hougan, the chief investment officer of asset-management company Bitwise.
Key facts
- In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024
- It's down 26% this year, and the broader market gauge CoinDesk 20 Index (CD20) has lost 34%
- The reporter thinks that's a bullish long-term signal. … the reporter thinks it's going north of $1 million in the next 10 years
- The value could peak at $4 trillion by 2030, according to Citi projections
Summary
Crypto’s next bull market is likely to be slower and less volatile because Wall Street is shifting attention from pure digital assets to real-world applications like tokenization and artificial intelligence, according to Bitwise CIO Matt Hougan. Despite bitcoin’s price being down 26% this year and still about 50% below its record high, interest from investment advisers and institutional-focused firms remains strong. Stablecoins and tokenization are drawing growing investor interest as more tangible, real-world use cases than purely digital assets. “We've lost the attention of investors to other hot trends,” most notably, for now, AI, Hougan said over email.