Bitcoin News Update: As Skeptics Rise, Crypto Believers Shape the Future's Worth

Matt Mollenkamp, CEO of Bitwise Asset Management, has once again emphasized a recurring theme in both the cryptocurrency and traditional finance sectors: although those with a pessimistic outlook may gain credibility during market downturns, it is ultimately the optimists who are responsible for driving sustained value over time. This perspective,

, is becoming more widely accepted as the crypto market experiences a correction and institutional involvement continues to grow.

Bitwise’s performance itself illustrates this point. The company’s

ETF (BSOL) has managed to attract significant investment despite market fluctuations, during its first two weeks of trading—a sharp contrast to Grayscale’s Solana ETF, which has only accumulated $24.4 million since its debut. This difference highlights Bitwise’s advantages, such as its lower 0.20% fee and unique staking options that let investors earn returns directly from the fund. These features have helped become a favored choice for those looking to invest in Solana’s fast-growing ecosystem, even as the wider crypto market faces challenges.

The ongoing tension between optimism and pessimism is also visible in Bitcoin’s latest trends. Although Bitcoin has dropped 18% since the Federal Reserve began lowering rates in September,

is still trading within $5,000 of its record high. that Bitcoin’s correlation with the NASDAQ-100 has risen to 0.8, yet the cryptocurrency behaves asymmetrically: it tends to follow stocks during downturns but lags behind during rallies. This “high-beta tail” pattern indicates that Bitcoin is increasingly seen as a barometer for macroeconomic risk, rather than as an independent asset, with institutional investors favoring equities over crypto when risk appetite increases.

Nevertheless, the long-term outlook for digital assets remains strong.

, with Cboe Global Markets preparing to introduce perpetual-style Bitcoin and futures on December 15. These new offerings, which do away with the need for frequent contract renewals, are designed to appeal to traditional investors interested in hedging or speculation. At the same time, , which lets users spend USDT worldwide, demonstrates the increasing mainstream adoption of cryptocurrencies for daily use.

Regulatory changes are also pointing toward a more supportive climate.

to participate in the global Crypto-Asset Reporting Framework (CARF), which would harmonize reporting standards for overseas crypto accounts and bring U.S. tax regulations in line with those of 73 other nations. While some critics warn that such regulations could hinder innovation, supporters argue they are essential for preventing tax evasion and ensuring fair competition among domestic exchanges.

For Mollenkamp, these developments bolster his core argument: short-term negativity often obscures underlying progress. “Pessimists may seem prescient during corrections, but it’s the optimists who shape the future,” he wrote in a recent internal communication. The achievements of Bitwise’s Solana ETF, along with broader industry progress, indicate that the long-term prospects for the crypto sector remain solid—even as it weathers periodic volatility

.