Bitcoin News: BTC Bottom Signals Build While Pepeto Presale Surges

The biggest bitcoin news of the week landed when Bitwise CIO Matt Hougan told the Milk Road Show that this bear market carries every attribute of a real bottom, pointing to quiet adoption from Wells Fargo, UBS, and Stifel as proof that institutional capital is building positions while prices sit 50% below the October peak.

While those wealth firms stack exposure through ETF wrappers, a meme coin presale that has already pulled in more than $10.6 million is burning supply every single week and racing toward an anticipated Binance listing. The name is Pepeto, and the entry it offers right now is the kind large caps stopped offering years ago.

Bitcoin News: Bitwise Says Bear Market Shows “Attributes of a Real Bottom” as Wall Street Adopts Crypto

Hougan revealed on August 14 that conversations with Wells Fargo, UBS, and Stifel uncovered the biggest surprise of this cycle, because those firms turned slowly toward crypto and do not care about the short term price. Bitcoin sits near $63,000 after dropping roughly 50% from its $126,080 all time high, yet institutions keep approving ETF products for their advisors.

That disconnect between weak price action and accelerating adoption is the pattern that marked every previous cycle bottom, according to Hougan. The asset is ignoring bad news. That is what bottoms look like.