<div id="readability-page-1" class="page">Bitcoin (BTC) is now nearly 50% below its all-time high set four months ago. And according to Bitwise Chief Investment Officer Matt Hougan, there is “never a single reason why the crypto market falls,” but rather multiple factors at work. Hougan believes there are six major drivers behind the downturn source: https://dailyhodl.com/2026/02/16/bitwise-cio-says-ai-and-precious-metals-helped-spark-bitcoin-downturn-and-several-catalysts-could-turn-things-around</div>

GBTC

<p>Bitcoin (BTC) is now nearly 50% below its all-time high set four months ago. And according to Bitwise Chief Investment Officer Matt Hougan, there is “never a single reason why the crypto market falls,” but rather multiple factors at work. Hougan believes there are six major drivers behind the downturn source:</p>

CoinLive

Grayscale Bitcoin Trust BTC - ETF

Grayscale Bitcoin Mini Trust ETF

Kinross Gold

Zijin Mining

Invesco Galaxy Bitcoin ETF

VanEck Bitcoin ETF

iShares Gold Trust

Grayscale Bitcoin Miners ETF

iShares MSCI Global Gold Miners

Valkyrie Bitcoin Miners ETF

Bitwise Bitcoin ETF

EFUND GOLD MI-R

ProShares Bitcoin Strategy ETF

Franklin Bitcoin ETF

SPDR S&P Mtls & Mng

SPDR GOLD TRT-R

SPDR GOLD TRT

Abrdn Gold ETF Trust

iShares Bitcoin Trust ETF

Direxion Daily Crypto Industry Bull2XETF

Invesco Alerian Galaxy Crypto Economy ETF

SPDR GOLD TRT-U

Bitwise 10 Crypto

Grayscale Bitcoin Adopters ETF

Valkyrie Bitcoin and Ether Strategy ETF

Roundhill COIN WeeklyPay ETF

WisdomTree Bitcoin Fund

VanEck Gold Miners ETF

EFUND GOLD MI ETF

EFUND GOLD MI-U

Sprott GLD Miners Etf

Fidelity Wise Origin Bitcoin Fund - ETF

Bitwise CIO Says AI and Precious Metals Helped Spark Bitcoin Downturn, And Several Catalysts Could ‘Turn Things Around’