📉⚡️ Bitwise Cuts 14% of Staff: Crypto Asset Managers Face Post-Bull Pressure Even as spot $BTC ETFs sit on $77.5B in total net assets, the broader industry is facing a sharp structural realignment. Bitwise Asset Management just trimmed 14% of its workforce, joining a growing list of major crypto firms - including Coinbase and FalconX - adjusting to lower volumes. Meanwhile, platforms like BitMEX and BitMart are winding down operations entirely as retail interest shifts toward AI equities and prediction markets, which surged 48.7% in Q2. 🌐 This downsizing highlights a hyper-concentrated ETF market, where BlackRock ($47.3B) and Fidelity ($10.9B) hold the lion's share, while spot CEX volume fell nearly 28%. Despite the cuts, Bitwise executives maintain that we are near the market bottom, arguing that recent self-custody exploits only strengthen the case for regulated ETF wrappers. #BTC Price Analysis# #Bitcoin Price Prediction: What is Bitcoins next move?#