Bitwise CEO Hunter Horsley stated that Bitcoin has fallen nearly 30% this year, with double-digit declines in a single day entering bear market territory. However, he believes that the current correction is more influenced by macroeconomic factors, as cryptocurrencies are being sold off alongside high-liquidity assets like US stocks and gold. Meanwhile, long-term holders' confidence is wavering, but new institutional entrants see this as a "second entry opportunity after missing out."