Bitwise CIO outlines three conditions for a sustained crypto bull run

Bitwise CIO Matt Hougan has identified three conditions that must be met for the cryptocurrency market to maintain its bullish momentum this year: the mitigation of large-scale market shocks, the passage of a crypto market structure bill by the U.S. Congress, and the stabilization of the stock market. In a post on the official Bitwise blog, Hougan explained that the market has avoided a repeat of major shocks, such as the liquidation of approximately $19 billion in crypto futures positions on Oct. 10 of last year. He noted that while selling pressure had previously intensified due to concerns about potential liquidations by large market makers or hedge funds, this pressure now appears to have eased, suggesting that most large-scale position clearing was likely completed before the end of last year. Hougan also argued that clearer regulatory laws are necessary for a sustained crypto rally and that a stable U.S. stock market would alleviate pressure on the broader risk-asset market.