Bitwise CIO: The main reason for the Bitcoin correction is active long liquidation, and the market may be in a bottoming phase.

2026-02-27 03:36:07

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Odaily Planet Daily reports that Bitwise Chief Investment Officer Matt Hougan stated on social media that various conspiracy theories surrounding the decline of Bitcoin are not the main reason. The price pullback is primarily due to investors holding long positions actively reducing their holdings.

He pointed out that the related selling activities include spot sales, margin position liquidations, and selling call options. Some funds are choosing to exit due to four-year cycle expectations, concerns about quantum computing, and shifting investments to AI startups.

Hougan believes that the selling pressure has significantly eased, and the market may be in a stage of bottoming out. He remains optimistic about reaching new highs in the future.

BTC-2.12%

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