Bitwise CIO says crypto winter could continue if market structure bill fails

Bitwise Chief Investment Officer (CIO) Matt Hougan stated on X that the proposed market structure legislation, the CLARITY Act, is akin to Punxsutawney Phil, the groundhog known for predicting the length of winter. He explained that if the bill is reconsidered by Congress but ultimately fails to pass, the crypto winter could persist. Conversely, Hougan suggested that if the bill is enacted into law, the market could advance toward all-time highs.