Bitcoin: Hougan Confirms Bear Market Bottom

Bitcoin ignored fresh negative headlines including the Coldcard hack, Strategy sales and CLARITY Act disappointment, prompting Bitwise CIO Matt Hougan to confirm the bear market bottom has arrived.

Price sits at $63700 inside the Bollinger Band with upper resistance at $65685.55 and lower support at $63261.12. The 50-EMA at $64350.19 and 200-EMA at $63744.14 frame a bearish structure while MACD at -265.19 prints a death cross and RSI at 38.21 remains neutral. With price testing upper Bollinger resistance while the broader trend stays below both EMAs, a healthy retracement toward the 50-EMA support at $64350 appears probable before any sustained continuation higher.