As Bitcoin (BTC) fought to stay above $66,000 in midday trade on Wednesday, dragging the overall cryptocurrency market down with it, Bankless co-founder David Hoffman, Bitwise investment chief Matt Hougan, and Anchorage’s David Lawant agreed that there’s a “bear market” in place, but three corners of the market are bucking the trend.
“It’s a bear market for crypto,” Hoffman said in a post on X. “But a bull market for perps, AI, and privacy.”
Lawant, Anchorage Digital’s head of research, agreed. “I see the fact that we did not get a generalized crypto bear market as a positive signal,” he wrote. “Mature asset classes price idiosyncratically most of the time: names decouple, capital rotates on fundamentals. Crypto is…
