According to Bitwise CIO Matt Hougan, all of the selling headwinds at the moment are one-off sales, creating a short-term liquidity shock, while the seasonal period in which cryptocurrencies are typically less liquid is coming to an end. In contrast, spot bitcoin ETF inflows, bitcoin halving, a shift in political attitude towards spot Ethereum ETFs, and the prospect of a Federal Reserve rate cut all create a better long-term environment for cryptocurrencies. Coupled with strong growth in the stablecoin market, Layer2 development, and the growing involvement of institutions such as BlackRock in the space, the right mix of developments in the second half could easily push bitcoin to $100,000 and push ETH to an all-time high.