Bitcoin, Ethereum Crash Was A Blip, Not A Fundamental Shift, Bitwise’s Matt Hougan Says
Posted On October 15, 2025
Matt Hougan, Chief Investment Officer at Bitwise, shared his perspective on last week’s crypto flash crash, framing the event through a long-term investment lens.
What Happened: In his latest investment memo, Hougan noted that crypto markets attract both long-term believers and highly leveraged short-term traders, making sudden shocks—like the $20 billion liquidation triggered by a Trump tweet on tariffs—appear extreme but often temporary.
To evaluate the event’s significance, Hougan asked three key questions:
- Did any major player collapse? No; losses were mostly limited to …
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