The recent volatility surrounding Strategy's perpetual preferred stock, STRC, could signal that Bitcoin (BTC) is approaching a cycle bottom, according to Bitwise CIO Matt Hougan. In a Wednesday report, Hougan argued that the sharp decline in STRC and Strategy's MSTR stock should be viewed as "classic end-of-cycle dynamics" rather than evidence of a broader structural threat to Bitcoin. "The volatility in STRC is a natural and important part of the crypto cycle. I think we’re nearing the bottom," wrote Hougan. STRC, launched by Strategy last year, is designed to offer investors a high dividend yield while ... (full story)