Bitwise CEO Sees Bitcoin Bear Market Ending Post ETF Debut
Bitwise CEO Hunter Horsley told investors that Bitcoin’s roughly six-month bear market is nearing its end, driven by the launch of spot Bitcoin ETFs and shifts in market dynamics. According to Horsley, the traditional four-year cycle models no longer apply as new participants, liquidity mechanisms and motivations fire up a more robust market structure. Despite recent sharp corrections tied to US government shutdowns and Fed rate uncertainties, Horsley maintains a medium-to-long-term bullish outlook on Bitcoin. He highlighted that ETFs have attracted institutional capital, changing transaction flows and supporting price stability. Traders should monitor ETF inflows and new liquidity sources, which could catalyze a sustained bull run in the coming months.
Bullish
Hunter Horsley’s comments signal a bullish outlook as they mark a shift from traditional cyclical patterns to ETF-driven market dynamics. The introduction of spot Bitcoin ETFs in multiple jurisdictions has historically coincided with increased institutional inflows and narrowing spreads, as seen when the first US BTC futures ETFs launched in 2021. These products lowered entry barriers and attracted capital, supporting price rallies. Horsley’s view that new participants and liquidity mechanisms are in place suggests a more resilient market capable of absorbing shocks from macro events like government shutdowns or Fed policy hawkishness. In the short term, traders might see reduced volatility and renewed upward momentum as ETF inflows ramp up. Over the long term, sustained institutional adoption and diversified transaction motivations could reinforce Bitcoin’s bull cycle beyond the traditional four-year halving-based framework. However, market participants should still monitor regulatory developments and ETF performance data for confirmation of this emerging trend.