Bitwise CIO: The crypto market is nearing a sentiment bottom, and a new high for BTC cannot be ruled out this year

According to CNBC, Bitwise CIO Matt Hougan stated that retail investors are in "extreme despair," but institutions and financial advisors are still increasing their allocations to Bitcoin; Bitcoin recently fell below the $100,000 mark, hitting a new low since June, while ETFs like iShares Bitcoin Trust (IBIT), Fidelity Wise Origin (FBTC), and Grayscale (GBTC) continue to see net inflows; Hougan believes that after a sentiment reshuffle, it may hit bottom, and there is a possibility that Bitcoin could break through approximately $125,000 to $130,000 to set a new all-time high within the year; Bitwise Solana Staking ETF (BSOL) raised over $400 million in its first week but has since dropped about 20% along with the market.