Crypto Is No Longer the ‘Belle of the Ball,’ Warns Bitwise’s Matt Hougan

Bitwise Chief Investment Officer Matt Hougan said the “brutal” cryptocurrency market is no longer the “belle of the ball,” as digital assets are increasingly becoming a contrarian investment.

In his latest memo, Hougan flagged three factors influencing the market, beginning with crypto’s struggle to attract investor enthusiasm as prices remain under pressure and momentum fades.