Bitwise CIO: The Fed's statement is just a sideshow, the Crypto Assets bullish trend will not change.

Shenchao TechFlow news, on December 19, Bitwise's Chief Investment Officer Matt Hougan expressed his views on X, elaborating on why he believes that the current cryptocurrency market's bullish trend will continue.

Despite the short-term impact of the latest Fed policy statement on the market - reducing the expected rate cuts for next year from 4 times to 2 times, Hougan believes this is just a temporary episode in the bull market process. He pointed out that the cryptocurrency market has developed internal dynamics independent of the Fed's policy, and there are currently four core trends driving the industry's development:

Washington's regulatory attitude has clearly shifted towards positive support

Institutional investors entering the market at an accelerating pace, with continuous inflow of ETF funds

Government and corporate institutions strategically increase their holdings of Bitcoin

Programmable blockchain technology has made breakthrough progress

From a technical perspective, the 10-day exponential moving average of Bitcoin (approximately $102,000) continues to stay above the 20-day moving average (approximately $99,000). Hougan stated that this classic technical indicator has always been able to reflect market trends well.

Hougan emphasized that the cryptocurrency market is in a new multi-year bullish cycle, and it is expected that a 50bps rate cut will not change this.