Bitwise CIO: The crypto market is nearing a sentiment bottom, and a new high for BTC cannot be ruled out within the year.

PANews, November 5 - According to CNBC, Bitwise CIO Matt Hougan stated that retail investors are in a state of “extreme despair,” but institutions and financial advisors continue to increase their allocation to Bitcoin; Bitcoin recently fell below the 100,000 mark, creating a new low since June. ETFs such as iShares Bitcoin Trust (IBIT), Fidelity Wise Origin (FBTC), and Grayscale (GBTC) continue to see net inflows. Hougan believes that after a reshuffle of sentiment, a bottom may be reached, and it is not ruled out that Bitcoin could break through approximately 125,000 to 130,000 this year, creating a historical new high. Bitwise Solana Staking ETF (BSOL) raised over $400 million in its first week but subsequently fell about 20% along with the market.