News linked to both this project and an event.
Bitwise Chief Investment Officer Matt Hougan stated that as U.S. stocks continue to rise, AI stocks attract significant capital, and the regulatory outlook for the U.S. "Clarity Act" remains uncertain, crypto assets are transitioning from past momentum trading to longer-term fundamental "contrarian bets."Hougan pointed out that against the backdrop of the Nasdaq 100 index rising 43% year-over-year and AI concepts dominating market attention, the appeal of allocating crypto assets for institutional investors has diminished. However, this does not mean the crypto industry is disappearing; rather, the investment logic is changing, requiring a longer-term perspective and stronger fundamental judgment.He also noted that the current "crypto winter" differs from the past, as funds are no longer simply flowing into large-cap assets like Bitcoin but are beginning to reward projects with independent fundamental narratives. For instance, Hyperliquid, BNB, Zcash, and Stellar have all seen notable gains recently, indicating that the market is placing greater emphasis on the actual progress and differentiated logic of specific projects.
after the U.S. Senate reached a compromise on stablecoin yield issues, expectations for advancing the crypto market structure bill have noticeably improved. Industry insiders stated that this progress "significantly boosted market sentiment," and the Senate Banking Committee may advance deliberation and voting as early as next week.Previously, the probability of the bill passing was only around 20%–30%, but expectations have now risen to approximately 60%. However, ethical issues surrounding Donald Trump and his crypto-related business ties are still seen as a key final obstacle.The bill aims to establish a comprehensive federal regulatory framework for the first time and delineate the regulatory authority between the SEC and the CFTC.