Bitcoin holds above $60,000 as Bitwise CIO says Strategy-led leverage unwind may signal a market bottom ahead of a fall bull run.
Key Takeaways:
Bitwise CIO says Strategy’s volatility reflects a typical late-cycle leverage unwind, not structural weakness in bitcoin demand.He argues the current phase is excess leverage removal, historically a precursor to new bull markets.The executive cites fear, valuation discounts, and negative funding rates as bottoming signals.Explaining why he believes the current correction is nearing its end, Hougan said:
Why the Rebound Does Not End the Debate
Bitcoin’s price chart via Bitcoin.com Markets. Signals of a Potential Bottom Hougan said bottoms cannot be identified with certainty but outlined indicators to watch.
“But there are a few signs that I’d watch for in the near future,” he wrote. “One would be MSTR trading at a discount to its net asset value. That would be a sure signal that greed has fully transformed into fear, a ripe condition for a market bottom.” He added:
