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极道桃园 Bitwise CIO: "Government's increased holdings of Bitcoin, Federal Reserve rate cuts, and other factors have not yet been fully priced in by the market. According to The Block, Bitwise Chief Investment Officer Matt Hougan stated that despite the cryptocurrency market being in a bull market, there are still four significant developments that have not been fully priced in by the market. These factors include: the increasing prospects of government purchases of Bitcoin, such as central banks like the Czech Republic quietly laying the groundwork; the Federal Reserve possibly implementing unexpected rate cuts before the end of the year; the significant decrease in volatility after the launch of Bitcoin spot ETFs, leading institutional investors to consider increasing portfolio allocation to 5% or more; and the potential arrival of the ICO market 2.0 under the "Project Crypto" initiative promoted by SEC Chairman Paul Atkins.