Bitwise CIO Matt Hougan suggests the cryptocurrency market likely reached its bottom in Q4 2023, supported by key optimistic trends such as record Ethereum transactions and growing DeFi adoption. He draws parallels between the current market state and Q1 2023 after the FTX collapse, which preceded a significant Bitcoin price rally. Hougan identifies upcoming catalysts including U.S. regulatory progress, a new Federal Reserve Chair, and a potential stablecoin supercycle that could further boost the market.

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