Bitcoin under $70K gives institutions a ‘new crack of the apple’: Bitwise CEO

Bitcoin is in a bear market and is “getting swept up” with the rest of the macro assets, Bitwise CEO Hunter Horsley declared during a television interview.

Bitcoin’s drop below $70,000 is being seen very differently by long-time holders and institutional investors, according to Bitwise CEO Hunter Horsley.

“I think long-time holders are feeling unsure, and I think the new investor set, institutions are sort of getting a new crack at the apple,” Horsley said during an interview with CNBC on Friday. Horsley said that institutional buyers are “seeing prices they thought that they’d forever missed.” 

It was only in October that Standard Chartered's head of digital asset research, Geoff Kendrick, said he doesn’t expect Bitcoin to fall below $100,000 again.

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