Bitwise Report Sees Bull Market Emergence Amidst Crypto Drawdown

A new report from Bitwise Asset Management highlights a possible emergence of a bull market in the crypto space, despite the recent 20.4% drop in total crypto market capitalization.

The report points out that stablecoin activity has reached an all-time high, with a monthly transaction volume of $316.4 billion and a steady market cap of $309.9 billion.

This is seen as a positive sign, indicating that investors are holding onto their stablecoins rather than selling them during the downturn.

Additionally, real-world asset tokenization has grown by 38% in Q1 2026, exceeding $20 billion in market cap. This growth is attributed to institutional investors' interest in tokenized traditional instruments.