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BTC 
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HYPE 
SOL Crypto Market News
Bitwise Chief Investment Officer Matt Hogan pointed out in a July 22 blog post that the starting point for the next round of crypto rise may not be in the crypto space itself. His argument is based on the convergence of crypto and traditional finance, and two companies are at the heart of this trend: Hyperliquid and Robinhood. 
Hogan believes Bitcoin (BTC) is reaching a turning point. He wrote that Bitcoin "is finally showing signs of bottoming out." But he reminds readers not to just focus on Bitcoin, the real driving force lies elsewhere. Responding to a question on how to prepare for the next rally, he said: "Focus on the two entities that are leading this convergence in two directions: Hyperliquid (HYPE) and Robinhood (HOOD)."
His core view is that trading habits in the crypto space are permeating traditional finance. Round the clock trading is an example. Hogan pointed out that traditional assets, including oil, silver and the S & P 500, now account for nearly half of Hyperliquid's trading volume. He also said that the platform is constantly expanding and the next step will involve spot commodities, forecast markets and options. On the other side is Robinhood's Layer-2 Network Chain, which Hogan believes has the ability to attract more users into the encryption space.
Bitwise bet tokens
Hogan predicts that if he is right, the market will see a broad rise. "I suspect the upcoming bull market will be enough to boost most sectors of the industry," he wrote. His list of preferred tokens includes Bitcoin, Ethereum (ETH) and Solana (SOL). Crypto-related stocks also appear on his list.
This optimism is not the first time. As early as February 2026, he said that the encryption winter was coming to an end. "We are closer to the end than we thought," he wrote at the time.
Related Articles
Hyperliquid's HIP-4 proposal opens permissionless deployment in the forecast market
Bitcoin demand shows early signs of recovery
A colleague at Bitwise has found a supportive signal. Andrei Dragosch, the company's head of European research, posted on Platform X on July 23 that demand for Bitcoin was "accelerating again." The indicator he cited was apparent demand, which compared the number of newly mined coins with the number of coins that had not been moved for a year or more.
Skeptics are cautious about timing. Many traders agree that a bottom may be forming, but they expect the downturn to continue for months.
