Bitwise investment chief Matt Hougan says crypto is shifting from a momentum trade to a contrarian bet as AI stocks and regulatory uncertainty weigh on markets.

Bitwise CIO Matt Hougan says crypto is becoming a contrarian bet as AI stocks dominate and Clarity Act uncertainty weighs.

Growing AI stocks and uncertainty around the Clarity Act have put crypto in a tough spot for institutional investors, Hougan said.

Bitwise investment chief Matt Hougan says crypto is shifting from a momentum trade to a contrarian bet as AI stocks and regulatory uncertainty weigh on markets.