Bitwise CEO: The recent crash in the cryptocurrency market is mainly dragged down by the macro environment, and investors are selling off all liquid assets

Bitwise CEO Hunter Horsley stated in an interview with CNBC, "Bitcoin has seen a double-digit drop in a single day and is currently in a bear market, down nearly 30% year-to-date. As for the reasons, I believe the current crypto market is being swept up by the overall macro environment, with investors selling off all liquid assets. Gold is down, the Nasdaq 100 is down, and Amazon is also being sold off. Over the past few months, there have indeed been some internal factors in the crypto space, such as operational disruptions at certain offshore trading platforms, but at this moment, crypto assets are trading more in sync with other highly liquid assets. I feel that long-term holders are experiencing uncertainty; meanwhile, newly entering institutional investors feel they are encountering a 'second chance,' seeing prices they once thought they had missed forever. I believe we are currently in a transitional phase. Ultimately, crypto assets remain a relatively small asset class, and most investors have not truly allocated to them yet. Therefore, the overall long-term outlook is very solid; it is just currently experiencing fluctuations and reversals during this transitional period."