Bitwise CIO: Crypto Investments Shift From Momentum Trading to Fundamentals as Nasdaq Surges 43%

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According to The Block, citing Bitwise CIO Matt Hougan, cryptocurrency investments are shifting from momentum-driven trading toward longer-term fundamental plays amid a broader market rotation. As the Nasdaq 100 index surges 43% year-over-year with AI stocks capturing investor focus, institutional appetite for crypto assets has cooled. However, Hougan noted that market rewards are increasingly flowing to projects with differentiated narratives—Hyperliquid, BNB, Zcash, and Stellar have recently outperformed, signaling renewed focus on actual project progress over broader market trends.
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