Bitwise CIO: "BTC Decline Due to Early Investor Selling...Changes in Hands Are Coming"

The current Bitcoin sell-off is coming from early adopters (OGs), and there's been a recent turnover in the market, Bitwise Chief Investment Officer (CIO) Matt Hougan told Bloomberg TV. "Previously, BTC was primarily held by retail investors, but the net buyers these days are financial advisors, family offices, and institutions. They're mostly long-term investors. Retail investors are selling faster than institutional buyers, and institutions see this as an opportunity. Many of the original OGs are still BTC believers. They're seeing a four-year cycle in the current market, and most of them are staying in the market, just hoping to capture some of their profits," Hougan said.