Bitcoin (CRYPTO: BTC) has logged its steepest two-week drawdown since June 2022, but Bitwise Chief Investment Officer Matt Hougan says “much of the bad news is already priced in”.

The 6 Crash Factors

Hogan identified six factors driving the crash:

Signs of Exhaustion

On-chain data reveals long-term holders stopped selling aggressively and some are buying.

Open interest on Bitcoin derivatives exchanges fell to 2024 levels. Rate cut expectations are increasing.

Moreover, Sentiment is hovering near historic lows, matching levels that marked crypto bottoms in 2018 and 2022, suggesting the market has already priced in much of the bad news.

Could It Fall Further?

Yes. Previous drawdowns were…

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