Bitwise CIO Matt Hougan 在 CNBC 采访中表示，未来 10 年比特币有望实现稳健但不再“爆炸式”的回报，波动性将低于以往周期。他认为，缓慢而持续的机构买入正在托底价格，使本轮回撤明显小于历史周期常见跌幅。Hougan 仍看好 2026 年比特币走势，但指出监管利好已基本被市场消化，难以再带来显著额外上涨空间。

<div>Bitwise CIO Matt Hougan 在 CNBC 采访中表示，未来 10 年比特币有望实现稳健但不再“爆炸式”的回报，波动性将低于以往周期。他认为，缓慢而持续的机构买入正在托底价格，使本轮回撤明显小于历史周期常见跌幅。Hougan 仍看好 2026 年比特币走势，但指出监管利好已基本被市场消化，难以再带来显著额外上涨空间。<br><br></div>

Bitwise CIO ：未来 10 年比特币有望实现稳健但非爆炸式的增长回报

In a CNBC interview, Bitwise CIO Matt Hougan stated that Bitcoin is poised for steady, but no longer "explosive," returns over the next 10 years, with volatility lower than in previous cycles. He believes that slow, consistent institutional buying is supporting prices, making this pullback significantly smaller than typical historical cycles. Hougan remains bullish on Bitcoin's performance in 2026, but points out that regulatory benefits have largely been priced in by the market and are unlikely to provide significant additional upside potential.

<div>In a CNBC interview, Bitwise CIO Matt Hougan stated that Bitcoin is poised for steady, but no longer &quot;explosive,&quot; returns over the next 10 years, with volatility lower than in previous cycles. He believes that slow, consistent institutional buying is supporting prices, making this pullback significantly smaller than typical historical cycles. Hougan remains bullish on Bitcoin&#39;s performance in 2026, but points out that regulatory benefits have largely been priced in by the market and are unlikely to provide significant additional upside potential.<br><br></div>

Bitwise CIO: Bitcoin is expected to achieve steady but not explosive growth returns over the next 10 years.

According to ME News, on December 28th (UTC+8), Coinbob's hot address monitoring showed that the "alt short seller" transferred $2 million to Hyperliquid yesterday and then established a short position in ZEC around $446. The current position size is approximately $1.32 million, with an average price of $479, and the address is still adding to its position as of press time. This address had already liquidated its positions in MON, ZEC, and Trump before Christmas this week, and significantly closed out its short positions in ASTER, UNI, PUMP, and other cryptocurrencies...

The "fake short seller" returned to the short after the holiday to add to short positions, profiting from previously closed short positions in UNI, ZEC, etc. at low points.

Coinbase Institutional says shifting market structure, not hype cycles, will shape crypto trading and adoption in 2026 as activity concentrates in a few key areas.

Coinbase says three areas will dominate the crypto market in 2026

Author | Messari
Compiled by Odaily Odaily(@OdailyChina)
Translator | Dingdang (@XiaMiPP)
Editor's Note: While Bitcoin has repeatedly "hit the wall" and its price has continued to fluctuate between $80,000 and $90,000, market attention is likely still largely focused on Bitcoin itself. However, ZEC, a representative asset in the privacy sector, has once again broken through the $500 mark, currently trading at $518, representing a nearly 40% increase from its recent low. Even more intriguing is...