Bitwise’s Hougan says Q3 charts point to ‘crypto spring’

Hougan's framing matters less as a forecast than as a signal of how an asset manager with a public research voice is positioning the narrative around a broad-based improvement in the metrics it tracks. The claim rests on Bitwise's own dataset, so it is a house view rather than an independent read, and the breadth of the gains is doing most of the analytical work. Whether that breadth persists into subsequent quarters, or proves to be a single-period snapback, is the open question.