Bitwise CIO: The crypto market is approaching an emotional bottom, and a new BTC all-time high within the year cannot be ruled out

According to Jinse Finance, citing CNBC, Bitwise CIO Matt Hougan stated that retail investors are in a state of "extreme despair," but institutions and financial advisors are still increasing their allocation to bitcoin. Bitcoin recently fell below the 100,000 mark, hitting a new low since June, while ETFs such as iShares Bitcoin Trust (IBIT), Fidelity Wise Origin (FBTC), and Grayscale (GBTC) continue to see net inflows. Hougan believes that after this sentiment shakeout, bitcoin may bottom out, and it is possible for bitcoin to break through approximately 125,000 to 130,000 and reach a new all-time high within the year. After attracting over 400 million USD in its first week, the Bitwise Solana Staking ETF (BSOL) has since dropped about 20% along with the market.