BlockBeats News, February 6 — Hunter Horsley, CEO of Bitwise, said in an interview with CNBC, "Bitcoin has experienced a double-digit decline in a single day and is currently in a bear market, with a year-to-date drop of nearly 30%. As for the reasons, I believe the current crypto market is being swept up by the overall macro environment, with investors selling off all liquid assets. Gold is falling, the Nasdaq 100 is declining, and Amazon is also being sold off.
In the past few months, there have indeed been some internal factors in the crypto space, such as disruptions on certain offshore trading platforms. But at present, crypto assets are mostly trading and fluctuating in tandem with other high-liquidity assets.
I think long-term holders are feeling uncertain; meanwhile, new institutional investors see this as a ‘second opportunity,’ recognizing prices they once thought they would never get. I believe we are in a transitional phase. Ultimately, crypto assets are still a small-scale asset class, and most investors have not yet fully allocated. Therefore, the overall long-term outlook remains solid, but we are currently experiencing turbulence and fluctuations during this transition period."
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