Bitcoin's Crash Below $100,000 Isn't The End: Wall Street Vet Says: 'We Have To Get Through This'

Market Overview - Bitcoin fell below $100,000 for the first time since July, with $1.7 billion in liquidations occurring within 24 hours [1] - Ethereum dropped nearly 5% in the last 24 hours, trading below $3,200 [1] - Solana experienced a 20% decline over the past week [1] Institutional Investment Trends - Bitwise Asset Management launched the Bitwise Solana Staking ETF (NYSE:BSOL), attracting $417 million in inflows within a week, marking it as the fastest-growing new ETF of the year [3][4] - The BSOL ETF stakes 100% of its underlying Solana holdings, offering yields of approximately 7% [4] Factors Driving Solana's Popularity - Solana is benefiting from the growth of stablecoin payments and asset tokenization, with a recent partnership with Western Union to issue a stablecoin on its network [5] - The blockchain is compared to the early Internet boom, noted for being user-friendly and scalable, although Ethereum remains the dominant platform [6] Market Sentiment - The current market is described as a "tale of two markets," where retail traders are facing leverage unwinds while institutional investors maintain a positive outlook [7] - Predictions suggest that retail sentiment may bottom out before a potential rebound into 2026, as professional investors accumulate assets at lower prices [7] Future Outlook - Bitwise anticipates more spot crypto ETFs in the coming months, including products linked to XRP and diversified crypto-index funds, pending regulatory approvals [8]