Bitwise Exec: BTC Immune to Bad News, Bear Market May Be Nearing Its End

Compiled & Edited by: Odaily TechFlow

Guests: Matt Hougan (Chief Investment Officer at Bitwise), Ryan Rasmussen (Head of Research at Bitwise)

Host: The Rollup Anchor

Podcast Source: The Rollup

Original Title: Bitwise CIO & Research Head: Why Institutions Are Buying Ethereum Now (Majors vs Apps)

Air Date: August 12, 2026

Note: The guests' firm, Bitwise, operates multiple crypto ETF products, and their views may carry a structural bullish bias. This article preserves their original statements and does not constitute investment advice.

Key Takeaways

At the time of this recording, Bitcoin was approximately $65,000, down more than half from its October high. But the two Bitwise executives saw a different picture: throughout the summer, Saylor (founder of Strategy) was selling coins, a cold wallet theft of over $100 million occurred, and the Clarity Act stalled in the Senate—yet Bitcoin didn't drop at all. They interpret this phenomenon as a bottom signal: those who could sell have already sold, leaving only the "ride or die" long-term holders. Meanwhile, the real big buyers—Wall Street wealth management platforms—have just completed a two-year education period and are about to begin allocating.