Bitcoin Price Unlikely To See A 77% Drawdown Again – Bitwise CIO
Bitcoin has experienced significant recent declines, but Bitwise CIO Matt Hougan suggests the worst may be over. In a recent report, he cited multiple factors for the downturn, including market cycle dynamics, shifting investor attention to AI and metals, and the major liquidation event on October 10, 2025, triggered by U.S. trade policy. Other concerns included Federal Reserve leadership speculation and macro risk-off sentiment. However, Hougan notes that long-term holders have slowed selling, and derivatives open interest has dropped to 2024 levels. While further declines are possible, he believes Bitcoin is now a more mature asset and unlikely to repeat past 77% drawdowns. Bear markets, he concludes, typically end in exhaustion rather than excitement. Currently, Bitcoin is trading around $67,834, up over 4% in 24 hours.
bitcoinist02/07 22:01