Bitwise CIO Matt Hougan says Strategy's STRC selloff reflects the kind of "end-of-cycle" deleveraging that precedes a bitcoin market bottom.

Strategy outlined a new capital framework as bitcoin steadied after last week's sharp MSTR and STRC selloff.

Has Strategy’s new capital overhaul defused the fears swirling around STRC, or has it simply bought more time before the next bout of stress?

Bitwise CIO Matt Hougan says Strategy's STRC selloff reflects the kind of "end-of-cycle" deleveraging that precedes a bitcoin market bottom.

Bitwise said STRC's volatility reflects a late-cycle leverage unwind, with institutions poised to replace Strategy as bitcoin's biggest buyer.

Bitwise CIO Matt Hougan says the STRC unwind is clearing excess leverage from Bitcoin and could signal that the crypto market is nearing a bottom.

Bitwise chief investment officer Matt Hougan says Strategy won’t play as prominent a role in Bitcoin’s future price rallies after its STRC crisis forced the firm to rethink its…