Bitcoin's Crash Below $100,000 Isn't The End: Wall Street Vet Says: 'We Have To Get Through This'

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For the archetypal clip since July, Bitcoin (CRYPTO: BTC) fell beneath $100,000 connected Tuesday arsenic the crypto sell-off saw $1.7 cardinal successful liquidations successful 24 hours.

Ethereum (CRYPTO: ETH) is down astir 5% implicit the past 24 hours, bottoming beneath $3,200 successful Tuesday afterhours trading.

Meanwhile, Solana (CRYPTO: SOL) has slipped 20% implicit the past week.

The Nasdaq Composite turned volatile arsenic investors sold shares of Palantir Technologies Inc. aft its earnings, reflecting broader profit-taking successful high-valuation maturation sectors.

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While retail traders reduced exposure, organization wealth flowed successful a antithetic direction.

Bitwise Asset Management has launched the Bitwise Solana Staking ETF (NYSE:BSOL), pulling successful $417 cardinal successful full inflows successful 1 week.

"It's the fastest-growing caller ETF to motorboat this twelvemonth — crossed each plus classes," said Bitwise’s Chief Investment Officer Matt Hougan connected Tuesday connected CNBC.

"Investors were intelligibly bare for Solana vulnerability successful a elemental staking spot ETF," helium added.

Hougan noted that BSOL stakes 100% of its underlying Solana holdings, offering yields of astir 7%.

He said the fund's aboriginal occurrence underscores organization appetite for staking-based returns and semipermanent vulnerability to blockchain infrastructure plays.

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Hougan said Solana benefits from 2 large trends: the enlargement of stablecoin payments and plus tokenization.

"If some markets grow, Solana stands to triumph a larger share," helium explained.

The network's caller concern with Western Union Co. to contented a stablecoin connected Solana added to that narrative.

He compared the blockchain's imaginable to the aboriginal Internet boom, calling it "one of the astir user-friendly and scalable ecosystems," portion acknowledging that Ethereum remains the ascendant platform.

Hougan described today's marketplace arsenic "a communicative of 2 markets." Retail traders look leverage unwinds and liquidations, but organization investors stay constructive.

"We person to get done this retail flush-out," helium said, predicting sentiment could bottommost earlier a rebound into 2026 arsenic nonrecreational investors accumulate astatine little prices.

He added that Bitwise expects much spot crypto ETFs successful coming months, including products tied to XRP (CRYPTO: XRP) and diversified crypto-index funds erstwhile regulators finalize approvals.