Bitwise CIO Matt Hougan has expressed confidence in decentralized finance (DeFi) as a catalyst for the crypto market's recovery from the current bear market. Hougan highlighted the significant progress of major DeFi protocols, noting that Uniswap's trading volume often exceeds that of Coinbase, and Aave generates over $100 million in annual revenue. He emphasized that the next bull market will focus on fundamentals, with DeFi well-positioned to benefit. Hougan also mentioned Aave Labs' governance proposal to align protocol success with token value, which could set a precedent for other DeFi assets. Meanwhile, Michael Saylor, co-founder and executive chairman of Strategy, predicted a recovery for Bitcoin, describing the current bear market as milder and shorter than previous cycles. Saylor pointed to stronger banking support and ongoing capital inflows as positive indicators for Bitcoin's future, asserting that "spring is coming, Bitcoin is winning."