The Wolf Of All Streets “This Upcoming Catalyst Will Ignite Bitcoin’s REAL Bull Run” | Matt Hougan
Nov 16, 2025
In this engaging discussion, Matt Hougan, Chief Investment Officer at Bitwise, sheds light on the current state of Bitcoin and the driving forces behind its price movements. He delves into the significant role of ETFs as new market buyers and how the Clarity Act could potentially spark the next bull run. Matt also covers the revolutionary potential of tokenization and stablecoins in transforming finance. He emphasizes how regulatory clarity will boost institutional confidence and why current market conditions present a unique opportunity for long-term investors.
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Government Reopening Unlocks ETF Wave
- The government reopening removes administrative ETF bottlenecks and enables many more crypto ETP approvals.
- That increases institutional access and liquidity across major crypto assets, accelerating adoption.
$100K Became A Behavioral Sell Wall
- $100,000 acted as a behavioral sell wall driven by long-term holders taking profits and writing covered calls.
- Churning through that wall will take time despite strong ETF demand and institutional buying.
Covered Calls Can Mask Selling Pressure
- Early holders sold or wrote covered calls instead of moving coins on-chain, creating hidden supply pressure.
- Covered-call writing supplies the market similar to selling because it sells upside while keeping on-chain positions intact.