Hyperliquid and Robinhood to Power Bitcoin's Rise in Upcoming Bull Cycle: Bitwise CIO
According to Bitwise, the integration of traditional finance ventures by Hyperliquid and Robinhood is expected to serve as the foundation for cryptocurrency's bullish resurgence, providing upward momentum for Bitcoin and Ether.
Bitcoin (BTC) appears to be "finally showing signs of a bottom," though the catalyst for the upcoming bull market may originate from an unexpected direction.
Key points:
- According to Bitwise's Matt Hougan, traditional finance integrations, especially those from Hyperliquid and Robinhood, are poised to fuel the next cryptocurrency bull market.
- This rising tide is expected to provide upward momentum for major cryptocurrencies, notably Bitcoin and Ether.
- Data from Bitwise indicates that apparent demand for BTC is beginning to exhibit signs of a turnaround.
Hyperliquid and Robinhood positioned as catalysts to "lift most of" the crypto market
During a Wednesday blog post, Matt Hougan, who serves as chief investment officer at cryptocurrency asset manager Bitwise, disclosed his selections for the forces that will provide upward momentum to BTC price performance in the future.
While Hougan observes that BTC/USD is making gains relative to US equities, he suggests that investors should direct their attention toward different areas for the next sustained cryptocurrency recovery.
"So how should you start positioning for the new bull market?" he asked.
"By looking at two entities that are leading this convergence from opposite sides: Hyperliquid (HYPE) and Robinhood (HOOD)."
According to Hougan, the bull market will be dependent on cryptocurrency-focused integrations that deliver the market's built-in advantages, including round-the-clock trading, to the traditional finance sector.
"Today, nearly half the volume on Hyperliquid is in conventional assets like oil, silver, and the S&P 500. It's expanding into spot commodities, prediction markets, and options," he commented regarding Hyperliquid.
Hougan also identifies competition emerging from traditional financial institutions, such as the layer-2 network Robinhood Chain, as a crucial catalyst that will contribute to a more comprehensive crypto revival.
"I suspect the coming bull market will be big enough to lift most of the sector," he stated.
"I'm bullish on the majors—Bitcoin, Ethereum, Solana, etc.—and on crypto equities. But there are two types of investments I think are particularly well positioned."
The executive from Bitwise has maintained an optimistic outlook on Bitcoin and the broader cryptocurrency market throughout 2026, forecasting in February that crypto winter's conclusion would arrive "sooner rather than later."
"Here's the good news: We're closer than you think," he stated at the time.
Bitcoin's apparent demand shows upward reversal
According to reporting by Cointelegraph, Bitcoin traders have reached a general consensus that although certain bottom indicators are already appearing, the bear market likely has multiple months or potentially longer remaining ahead.
Spot demand continues to show weakness and has emerged as a critical discussion point, even when examining shorter time periods. Nevertheless, Bitwise also identifies a possible shift taking place in this area.
Through an X post published on Thursday, Andre Dragosch, European head of research, characterized apparent demand as "re-accelerating."
Apparent demand calculates the differential between freshly-mined BTC and the supply that has remained inactive for a minimum of one year.
