Bitwise CIO Sees June Crypto Low as Start of Multi-Year Bull Market
Matt Hougan says crypto bottomed in June and expects turbulence before a multi-year advance, while Bitcoin trades near $73,670 amid broad market weakness.
Matt Hougan says crypto bottomed in June and expects turbulence before a multi-year advance, while Bitcoin trades near $73,670 amid broad market weakness. Bitcoin (BTC) is trading at $73,873.00, up 0.3% since this brief published. This is an original TLT brief based on reporting by Unchained, with live market data added, as of Wed, 11 Nov 2026 06:00:05 UTC.
Hougan’s call places recent market weakness near the beginning of a longer bull-market thesis, but the immediate price action and fearful sentiment show that the expected near-term uncertainty remains unresolved.
- Bitwise CIO Matt Hougan identifies June as the crypto market bottom.
- He expects several uncertain weeks before a multi-year bull market develops.
- Bitcoin trades at $73,670, down 1.51% over 24 hours and 3.63% over seven days.
- Crypto market sentiment remains in fear territory at 29.
Unchained reported that Bitwise chief investment officer Matt Hougan believes the crypto market bottomed in June and that a multi-year bull market is underway. His view includes expectations of several uncertain weeks in the near term and a positive finish for 2026, framing recent volatility as part of a longer market cycle rather than necessarily the end of the move.
The report came a day after 
Bitcoin fell below $74,000 following a hot inflation reading. That decline preceded the live snapshot, when Bitcoin traded at $73,670, down 1.51% over 24 hours and 3.63% over seven days. Its market capitalization stood at $1.48 trillion.
The wider crypto market was broadly lower, with total capitalization at $2.52 trillion. The Fear & Greed index stood at 29, placing sentiment in the “Fear” category and contrasting with Hougan’s constructive long-term outlook.
The immediate question is whether Bitcoin can stabilize after the inflation-driven move below $74,000 while the broader market absorbs the uncertainty Hougan expects. His bullish thesis depends on a multi-year advance, but the current data show continued short-term weakness and defensive sentiment rather than confirmation of that outlook.
Since this brief published about 9 hours ago, Bitcoin (BTC) has moved from $73,670.00 to $73,873.00 — +0.28%.
The chart plots BTC's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 BTC ≈ ₦102.69M (about $73,873.00), down 1.2% over 24 hours. The naira itself trades about 2.9% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Bitwise CIO Sees June Crypto Low as Start of Multi-Year Bull — questions & answers
What does Matt Hougan believe about the crypto market cycle?
Hougan says crypto bottomed in June and expects a multi-year bull market, though he anticipates several uncertain weeks first. He also expects a good ending to 2026.
Why did Bitcoin fall below $74,000?
Unchained reported that Bitcoin slipped below that level a day after Hougan’s comments following a hot inflation report.
Where is Bitcoin trading and what is market sentiment?
Bitcoin is at $73,670, down 1.51% over 24 hours and 3.63% over seven days. The Fear & Greed index stands at 29, indicating fear.
How much is 1 Bitcoin worth in naira today?
About ₦102.69M at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $73,873.00. The naira price moves with both BTC's US-dollar price and the USDT/NGN rate; use our Bitcoin in naira page for any amount.
Has Bitcoin's price moved since this brief was published?
BTC is up 0.28% since this brief first published — trading at $73,873.00 now versus $73,670.00 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from Unchained. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.