Bitwise CIO Matt Hougan says the next bull run will be slower and less volatile. More institutions. More ETF flows. More long-term capital. Less speculation. Most people are waiting for a repeat of the last cycle. I'm not convinced that's what happens.

Bitwise CIO Matt Hougan says the next bull run will be slower and less volatile.

More institutions.

More ETF flows.

More long-term capital.

Less speculation.

Most people are waiting for a repeat of the last cycle.

I'm not convinced that's what happens.

— That Martini Guy ₿ (@MartiniGuyYT) Jun 18, 2026