Bitwise CIO Says Retail Selling Nearing Exhaustion as Bitcoin Bottom May Be Close

Bitwise Chief Investment Officer Matt Hougan said on Nov. 5 that Bitcoin's bottom may be approaching despite the asset falling below $100,000 to its lowest level since June, BlockBeats reports. Hougan noted that retail investors face extreme desperation with frequent leverage liquidations and market sentiment at new lows, while institutional investors and financial advisors continue to maintain bullish positions and accumulate crypto assets through ETF channels. He said retail crypto investor selling is nearing exhaustion and believes Bitcoin could still reach new highs this year, potentially trading between $125,000 and $130,000, with an optimistic scenario reaching $150,000.