Bitwise CIO Claims Crypto Winter Began in 2025—Now the Question Is When It Ends

Matt Hougan, Chief Investment Officer (CIO) at Bitwise Asset Management, said the market is experiencing a crypto winter.

According to his analysis, the crypto winter began in January 2025, but heavy institutional inflows “papered over that truth,” masking the depth of the downturn. The key question now is, how long will the winter last?

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Market Weakness Signals an Ongoing Crypto Winter

In a recent market commentary, Hougan rejected the idea that recent price weakness…