An investing chief overseeing $1.2 billion says macro conditions will dictate crypto returns through the summer — and shares his 2 token picks for when the market starts bottoming out

• The macro is likely to dictate crypto returns for the coming months, says Bitwise’s Matt Hougan.
• He shares how 2 catalysts could spark strong moves if macro conditions level out.
• And, he lays out 2 crypto assets to snap up as the market bottoms out.

It’s not been fun to play in the crypto markets this year even for the most seasoned of crypto investors.

Bellwether crypto assets like bitcoin (BTC) and ether (ETH) are down 57% and 63% respectively from their 2021 highs, while risky alt-coins like solana (SOL) and cardano (ADA) have plummeted by around 80%.

The declines come on the back of the Federal Reserve hiking interest rates to curb inflation, which impacted the outlook for risk assets like stocks and crypto. The S&P 500 is also down 14% from its 2021 highs.