"As 2025 draws to a close, Bitcoin's price performance has disappointed many," said JeffPark, a Bitwise consultant, in a post on social media. "Reminder: without an increase in its own volatility, Bitcoin's price cannot rise meaningfully."
Bitwise顾问JeffPark在社交媒体上发文表示,「随着2025年即将结束,比特币的价格表现令不少人感到失望。再次提醒:如果没有自身波动率的上升,比特币价格就不可能出现真正有意义的上涨。」
Bitwise指出,2025年,比特币的波动性已低于英伟达股票,比特币市场的成熟、机构持股比例的上升以及ETF资金流入是主要驱动因素。
Bradley Duke, managing director at Bitwise, said: "While gold has performed well in 2025, inflows into bitcoin exchange-traded products (ETPs) have surpassed inflows into gold ETPs in 2025."
Bitwise 董事总经理 Bradley Duke 表示,“尽管黄金在 2025 年的价格表现出色,但比特币交易所交易产品(ETP)的资金流入在 2025 年已经超过了黄金 ETP 的资金流入。”
Matt Hougan, chief investment officer of Bitwise, said that the recent downturn in the crypto market is mainly due to two reasons: "investors choose to sell off in anticipation of the four-year cycle" and "the 1011 market crash". Once these negative factors dissipate, the market will rebound. In addition, Matt Hougan pointed out that the development trajectory of crypto ETFs is "extremely optimistic". Some large brokerages are starting to enter the market. It is expected that 2026 will be a reco...
Bitwise首席投资官Matt Hougan表示,近期加密市场低迷主要因为“投资者预期四年周期即将到来而选择抛售”和“1011市场崩盘”两个原因影响,一旦这些负面因素消散市场将会反弹。此外,Matt Hougan指出加密ETF的发展轨迹“极其乐观”,一些大型券商开始入场,预计2026年将是加密ETF资金流入创纪录的一年,随着代币化和机构采用等特有因素成为价格主要驱动力,加密...
According to market news, Bitwise submitted an S-1 registration statement for the SUI Spot ETF to the SEC.
Bitwise forecasts that the volatility of BTC will be lower than that of Nvidia (NVDA) in 2025 due to institutional adoption and ETF-driven asset maturation, and forecasts that this trend will continue until 2026. The data shows that BTC will have a price amplitude of 68% in 2025, while Nvidia will have a price amplitude of 120%. Bitwise pointed out that with the entry of institutions such as Citigroup, Morgan Stanley, Wells Fargo, and Merrill Lynch into the crypto space, BTC's investor structure...