---
title: "Bitwise CIO Says AI and Precious Metals Helped Spark Bitcoin Downturn, And Several Catalysts Could ‘Turn Things Around’"
description: "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,"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/276059468.md"
published_at: "2026-02-16T13:10:16.000Z"
---

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

> 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:

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

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.