The longest shutdown in history by the US government, the cessation of access to major economic indicators due to the shutdown, the increasing uncertainty regarding the FED's interest rate cut and its hawkish statements caused a sharp correction in Bitcoin (BTC) and altcoins. While the recent increase in sudden and sharp corrections in Bitcoin has also increased bearish rhetoric, Bitwise CEO spoke clearly about the bearish rhetoric. Bringing a different perspective to bearish rhetoric, Bitwise CEO Hunter Horsley said that Bitcoin has been in a bear market for about six months and is now coming to an end. Stating that market dynamics have changed radically with the launch of spot Bitcoin ETFs and the inauguration of the new administration, Horsley argued that Bitcoin's traditional four-year cycle is no longer a valid model. Sharing from his X account, the famous CEO stated that the market is now driven by completely different participants, transaction motivations and liquidity mechanisms. Horsley also said that the current market structure is more robust than ever and Bitcoin maintains a bullish outlook in the medium to long term. “We talk about 4-year cycles. But the reality is that this model is based on the past cycles of cryptocurrencies. Since the launch of Bitcoin ETFs and new management, we have entered a new market structure: new players, new dynamics, new reasons why people buy and sell. I think there is a pretty good chance that we have been in a bear market for about 6 months and have almost gotten over it. The current state of cryptocurrencies has never been stronger.” *This is not investment advice. Continue Reading: Famous US CEO Comments "Bitcoin Bullishness Is Just Beginning!" Amid Sharp Declines! "Because Nothing Is the Same in Bitcoin!"
