Bitwise experts acknowledged that Q1 was "disappointing" for the crypto market, but noted several positive signals and four key catalysts for a possible BTC rally in Q2:
Growth factors:
1.The growth of the global money supply (aggregate M2) has historically increased interest in risky assets. An additional factor is the uncertainty around trade tariffs.
2.US pro-crypto policy and more clarity in regulation
3.Expanding the use of stablecoins among traditional financial institutions
4.The return of the "bitcoin = hard money and digital gold" narrative as a hedge against currency risks and tariffs
n Q1, the industry also reached historic highs:
•Stablecoins: $218 billion
•Tokenized assets: $19 billion
•BTC Futures Trading: $800+ Billion
•Open interest: $16 billion
•BTC on the balance sheet of public companies: ~688,000
•Ethereum and L2 transactions: $1.2 billion+
“The fall in confidence in institutes opens the door for bitcoin as a global asset,” said BitWise.
