Bitwise's Chief Investment Officer recently stated that the sharp decline in STRC marks the final stage of crypto market deleveraging, often a classic bottom signal. He observed that the market is undergoing a period of panic selling and leveraged position liquidation, which historically paves the way for the next uptrend.
Strategy Shifts to Dynamic Trading
Notably, Strategy Company (formerly MicroStrategy), known for its long-term Bitcoin holdings, has moved from one-way accumulation to active buying and selling. This change indicates that even the most committed Bitcoin bulls are adapting to market conditions, optimizing capital efficiency through active position management. The CIO views this not as a bearish signal, but as a sign of institutional maturity.
Institutional Capital to Lead Next Rally
The current market is in a bottom-clearing phase, with retail and leveraged capital being flushed out while institutional capital quietly accumulates. Bitwise expects that as the macro environment improves and regulatory frameworks become clearer, institutions will become the primary marginal buyers of Bitcoin. Based on these factors, the CIO predicts a new bull market could begin this fall.