No 2025 Rally Sets Stage for 2026 Crypto Bull Year
Bitwise CIO Matt Hougan predicts 2026 will be the real crypto bull year, arguing that the absence of a late-2025 rally resets the four-year cycle and delays the typical peak. Speaking at The Bridge conference, he highlighted strong fundamentals—stablecoins, tokenization, institutional investment and regulatory progress—that remain intact and poised to drive sustained upside. Renewed DeFi interest, spurred by Uniswap’s fee switch proposal, adds momentum. Hougan expects major assets like Bitcoin (BTC), Ether (ETH) and Solana (SOL) to reach new highs by 2026, though not at the extreme levels some analysts forecast. While crypto-native retail investors stay cautious after FTX and memecoin setbacks, traditional retail inflows via spot ETFs continue to strengthen market outlook. These factors underpin the 2026 crypto bull year forecast and suggest a bullish market trajectory.
Bullish
The forecast leverages the four-year Bitcoin cycle theory by noting that without a traditional year-end rally in 2025, the market avoids an early peak and bears a stronger run into 2026. Key on-chain fundamentals—stablecoins, tokenization, regulatory clarity and institutional demand—remain robust and align with rising spot ETF inflows. The Uniswap fee switch proposal is expected to reignite DeFi activity, further supporting bullish sentiment. In the short term, traders may position for a delayed cycle peak, while in the long term, persistent institutional and retail ETF flows should sustain upward momentum, reinforcing a bullish outlook.