Retail Sentiment At ‘Max Desperation’<\/h2>\n
Hougan told CNBC this week that small traders are hitting a breaking point. \u201cIt\u2019s almost a tale of two markets,\u201d he said, describing what he sees as \u201cmax desperation\u201d<\/a> among retail investors after months of heavy losses and leverage blowouts.<\/p>\n He called the mood the most depressed<\/a> he\u2019s ever witnessed in crypto. For him, that level of hopelessness might be the final stage before the market finds its footing again.<\/p>\n While smaller traders are backing off, larger investors appear to be sticking around. According to reports, financial advisors and institutional funds are still adding to positions through Bitcoin ETFs such as iShares Bitcoin Trust (IBIT)<\/a>, Fidelity Wise Origin Bitcoin Fund (FBTC), and Grayscale Bitcoin Trust (GBTC).<\/p>\n The weekly inflows have slowed since the middle of the year, but they remain positive \u2014 a sign, Hougan says, that big money hasn\u2019t lost faith.<\/p>\n Hougan argues that this split between retail panic and institutional confidence could shape how the market recovers.<\/p>\n \u201cWhen I talk to advisors and institutions,\u201d he said, \u201cthey\u2019re still excited to allocate to an asset class that, if you zoom out, is delivering strong returns over the past year.\u201d<\/p>\n The growing influence of crypto funds goes beyond Bitcoin. Hougan said Bitwise\u2019s new Solana Staking ETF<\/a> (BSOL) pulled in more than $400 million in its first week before dropping nearly 20% since launching on Oct. 28.<\/p>\n Even so, he sees strong appetite for professionally managed crypto exposure among investors who prefer structured products over direct trading.<\/p>\n![\"\"](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/11\/A_592ad8.png?resize=668%2C376\")
<\/p>\nInstitutional Flows Continue To Matter<\/h2>\n
\nSolana Staking Interest And ETF Activity<\/p>\n