Bitwise CIO Matt Hougan: 3 Key Conditions for the Continuation of the 2026 Crypto Bull Market

Bitwise is a well-known American digital asset management firm and one of the core issuers of Bitcoin and Ethereum spot ETFs, directly serving institutional funds; its Chief Investment Officer Matt Hougan's views are often cited by Wall Street institutions, regulators, and mainstream media, exerting significant influence on market expectations and capital sentiment.

His core conclusion is that for the crypto market to continue rising and reach new highs in 2026, three conditions must be simultaneously met: Market Stability + Clear Regulation + Macro Coordination.

1. Market Stability: Say Goodbye to Extreme Volatility

• Avoid systemic shocks similar to the past single-day $19 billion futures liquidation event

• Tensions caused by potential institutional selling pressure at the end of the year have significantly eased

2. Clear Regulation: U.S. Legislation is the Key Variable

• Focus on whether the U.S. Crypto Market Structure Act can be advanced

• The Senate Banking Committee is expected to review the relevant bill in mid-January

• A clear legal framework is a necessary prerequisite for a long-term bull market

3. Stock Market Coordination: Macro Environment Must Not "Hold Back"

• Digital assets are still considered high-risk assets and are highly correlated with U.S. stocks

• Stable U.S. stocks help reduce external systemic pressures

• Macro stability = a "tailwind" for crypto price increases