Matt Hougan, chief investment officer at Bitwise, said that Bitwise maintained its target price of $200,000 for bitcoin in 2025, but is not very confident that ETH and SOL can reach new highs this year. Matt Hougan and head of research Ryan Rasmussen said in a note to clients: "Crypto asset prices have been mixed this year. Thanks to strong inflows of ETFs, growing demand from bitcoin money managers, and the establishment of a potential U.S. strategic bitcoin reserve, bitcoin prices reached an all-time high in May. But Ethereum and Solana have both declined so far this year, and macro risks are holding back the bull market from accelerating."