Next Crypto Bull Cycle Will Focus on Stablecoins, Tokenization, and Institutional DeFi: Bitwise CIO

According to Odaily, Bitwise Chief Investment Officer Matt Hougan stated that strengthening Bitcoin momentum, ETF demand, and institutional adoption may signal early signs of the next crypto bull market. Since July 1, Bitcoin has gained 9% while the Nasdaq 100 declined 6%, indicating improving market sentiment and ETF capital flows, though Hougan cautioned the market has not yet confirmed a bottom.

Hougan believes the next crypto cycle will center on the convergence of blockchain technology with traditional finance, including stablecoins, tokenization, 24/7 trading, instant settlement, and institutional DeFi scaling to trillions of dollars. He cited Hyperliquid and Robinhood as two pathways for on-chain finance, noting Robinhood launched Robinhood Chain on July 1 to support tokenized stocks and DeFi services.