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

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.