DeFiance Capital founder: The significant market rise on July 14 marks the official end of the bear market
ChainCatcher news, DeFiance founder Arthur tweeted, "July 14, 2023, marks the official end of the 2022-2023 bear market." Arthur provided seven insights on this:
The worst of the macro tightening is over, CPI is declining, and real interest rates are positive. We may see interest rate cuts next year;
Starting with BlackRock's application for a Bitcoin ETF, institutions are increasingly accepting cryptocurrencies as an asset class;
If the SEC cannot win even against the token most likely to be defined as a security (XRP), then the chances of other tokens being classified as securities are greatly diminished;
Most short-term speculators have exited, and aside from some clear unlocking schedules, current holders are unlikely to sell in the short term;
The market is severely under-allocated to non-BTC and ETH;
Hong Kong's welcoming policy towards cryptocurrencies is real, which will open the door for Asian financial institutions to enter the cryptocurrency space legally. (Source link)
