Bitcoin is in a bear market and is “getting swept up” with the rest of the macro assets, Bitwise CEO Hunter Horsley declared during a television interview.

The crypto industry is about to get a wakeup call, as many companies will realize “they don’t have businesses, they have products,” says Bullish CEO Tom Farley.

Santiment said the increased use of “capitulation” among crypto users on social media could suggest the market bottom has already happened.