Bitwise Chief Investment Officer Matt Hougan said the $6.3 billion Binance hack was unlikely to have a lasting impact on Bitcoin. He noted that Bitcoin, Ether, and Solana remained stable following the November 3, 2026, US midterm elections, while the $TRUMP and $WLFI tokens declined. According to him, this divergence shows that the crypto market is becoming more mature and that institutional investors are increasingly assessing digital assets based on their fundamentals. He also noted that Bitcoin’s recent average drawdowns of around 50% remain significant, even though historical peak drawdowns approached 80%.
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