PANews reported on July 1 that according to The Block, Bitwise Chief Investment Officer Matt Hougan said that Bitwise sticks to its Bitcoin price target of $200,000 in 2025, citing strong institutional demand, but he is not very confident that ETH and SOL can hit new highs this year.

Matt Hougan and research director Ryan Rasmussen said in a note to clients: "Crypto asset prices have been mixed this year, with Bitcoin hitting a record high in May thanks to strong inflows from ETFs, growing demand from Bitcoin money managers, and the potential creation of a U.S. strategic Bitcoin reserve. But Ethereum and Solana are both down year to date, and macro risks are preventing the bull market from accelerating."