Bitwise’s chief investment officer, Matt Hougan, notes that crypto is losing its momentum trading status as investors shift towards AI stocks. This shift is driven by a focus on fundamentals over market hype, with AI stocks gaining attention and capital flows. Despite the shift, Hougan believes that crypto is not disappearing but evolving to reward projects with clear revenue and strong use cases. Bitcoin and major altcoins are struggling for momentum as investors seek assets with clearer stories and stronger data. The market remains weak, but there are green pockets in smaller assets, suggesting that the downturn may be closer to the end. The next phase will likely depend on fundamentals, regulation, and investor sentiment after the AI trade cools.
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