Crypto is losing its momentum-trade status as investors turn toward AI stocks, according to Bitwise chief investment officer Matt Hougan.
Summary
- Bitwise says crypto is shifting from momentum trading to contrarian investing as AI stocks dominate flows.
- Matt Hougan says investors still believe in crypto but now favor fundamentals over market hype.
- Bitcoin remains pressured by ETF outflows, equity rotation and weak market sentiment.
Hougan said the crypto market is under pressure because investors now have several fast-moving alternatives. In a June 2 market note, he pointed to AI stocks, robotics firms and SpaceX as assets drawing market attention away from digital…
