Bitwise CIO: Short-position traders see this pullback as a buying opportunity; crypto-native investors still dominate the market.
TL;DR
Bitwise CIO notes financial advisors view the market pullback as a buying opportunity, with early investors holding steady. He emphasizes that crypto-native investors, not ETF buyers, still dominate the market, highlighting a shift in focus from fringe to core participants.
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On February 6th, Bitwise Chief Investment Officer Matt Hougan stated that he visited several financial advisors this week, and they generally remained optimistic about the market. Those who haven't invested yet see this pullback as a good buying opportunity, while those who bought in earlier plan to continue holding.
If this pullback has taught us anything, it's that ETF investors are not the market leaders; native cryptocurrency investors still dominate. Over the past year, we've spent too much time focusing on fringe buyers (ETF investors) and neglecting HODLr (native cryptocurrency investors).