Bitwise execs remain bullish on BTC and the crypto markets despite recent volatility

---

---

Bitwise Asset Management, a popular crypto investment firm, maintains a mostly bullish outlook on the cryptocurrency market as of late 2025, with particular emphasis on Bitcoin (BTC), Ethereum (ETH), XRP, and Uniswap’s UNI token. 

This bullishness has persisted despite the current extreme volatility, which has driven the BTC price down to the $85,000 range and left major alts like ETH, XRP, and even SOL struggling to defend the gains made this year. 

Bitwise is betting big on these four crypto tokens 

According to recent tweets from Bitwise executives like Matt Hougan and Hunter Horsley, there’s no doubt the market had a bearish phase for six months earlier this year; however, they say things are about to go green again. 

The bullish momentum they refer to may be driven by factors like ETF inflows, whale movements, and technical indicators 

Earlier this year, Hougan, Bitwise’s CIO, predicted BTC has the potential to rally to $200,000 by Q3 2029, with a near-term bottom around $73,000–$84,000 based on ETF cost bases. 

Even now, that stance has not changed. According to a recent thread shared on X, Hougan believes the bullishness will go around as the market matures even more as regulatory clarity kicks in. 

Hougan, in his thread, highlighted some alts that he implied are poised to explode because they have gotten better at capturing value. The alts include ETH, UNI, and XRP, all assets that were created during a regulatory era where value capture was risky, which forced them to default to vague governance-style design choices. 

The regulatory climate has since changed, eliminating the need for such choices, Hougan implied on X. 

He started with UNI, highlighting how its status as a governance token had always limited it, especially since activity on Uniswap didn’t benefit UNI token holders. That may change soon if Uniswap implements the anticipated fee switch option, which would dedicate 16% of the trading fees to burn UNI. 

“I suspect this will push UNI toward being a top 10 token by market cap over time,” Hougan wrote. 

Then he moved on to ETH, citing the upcoming Fusaka upgrade, which will, among other things, introduce a minimum fee for recording data from Layer 2s. “Together with other important changes, this could 5-10X revenue capture by the blockchain,” Hougan surmised. 

As for XRP, Hougan pointed out that its community of holders is now considering ways to increase value capture and staking as a way to do that has cropped up in talks. Hougan believes that if it happens, it could alter the economics for token holders. 

Hougan is convinced these are just starting moves, and value capture for alts will only go up from here.

Bitwise CEO is still buying BTC 

Hunter Horsley, Bitwise’s CEO, a strong BTC believer, said he has been treating BTC’s retreat to the $85,000 range as an opportunity to buy. 

In an X post he shared on November 23, he revealed he had purchased even more Bitcoin because he could not resist $85,000. “Felt good,” he wrote. The post quoted an older post from four days before, where he revealed he had purchased more BTC because he could not resist doing so at $89,000. 

In another post he shared on the same day, Hougan implied that BTC could bottom soon, and since it is difficult to time such a bottom, the other better alternative would be to purchase a token at prices you feel it is cheap, which is what he has been doing with BTC. 

“Lots of things look cheap right now,” he posted on X. 

A quick look through Horsley’s most recent tweets confirms that he is putting his money where his mouth is. Like Hougan, who predicted BTC could rally to $200,000 by Q3 2029, Horsley sees a bright future for not just BTC but all of crypto. 

“It’s going to go beyond just digital gold,” he wrote in one post. That particular post came after he posted about crypto’s ongoing evolution. 

“A few years ago, the only thing mainstream investors would consider was ‘digital gold,” he wrote. “Now, folks have accepted that it’s ‘digital gold’ + ‘stablecoins’ + ‘tokenization.’”

He continued, “In a few years, they’ll realize it’s ‘digital gold’ + ‘stablecoins’ + ‘tokenization + ‘prediction markets + ‘DeFi’ + ‘digital identity’ + ‘privacy’ + ‘DePin’ + ‘capital raising’ + ‘decentralized AI’ + more.”

Want your project in front of crypto’s top minds? Feature it in our next industry report, where data meets impact.