Hyperliquid, Robinhood to Fuel Next Crypto Bull Market: Bitwise Exec

Bitwise's chief investment officer, Matt Hougan, believes that the next crypto bull market will be driven by traditional finance (TradFi) integrations. Two key players in this convergence are Hyperliquid and Robinhood. Hougan thinks that these entities will bring the benefits of 24/7 trading to the TradFi realm.

Hyperliquid is expanding into spot commodities, prediction markets, and options, with nearly half its volume in conventional assets like oil, silver, and the S&P 500. The Bitwise executive also sees competition from traditional financial players as a key catalyst for a broader crypto renaissance.

Hougan remains optimistic about Bitcoin and the wider market, predicting that the next bull market will be big enough to 'lift most of the sector.' He is bullish on major cryptocurrencies like Bitcoin, Ethereum, Solana, and crypto equities. Hyperliquid's HYPE token has seen significant volume growth, with nearly half its trading activity in conventional assets.

Bitwise also sees a potential shift underway in apparent demand for BTC. European head of research, Andre Dragosch, described 're-accelerating' apparent demand, which measures the difference between newly-mined BTC and supply inactive for at least one year.