TechFlow news: Arthur, founder of crypto investment fund DeFiance Capital, tweeted that July 14, 2023 marks the official end of the 2022-2023 bear market. Detailed analysis is as follows:
1. The worst phase of macro tightening is behind us—CPI has declined and real interest rates are positive. Rate cuts could be possible next year;
2. Starting with BlackRock's application for a Bitcoin ETF, institutions continue to embrace cryptocurrencies as an asset class;
3. If the SEC cannot win even against tokens most likely to be classified as securities (e.g., XRP), the likelihood of other tokens being deemed securities significantly decreases;
4. Most short-term speculators have exited the market; aside from a few clear unlock schedules, current holders are unlikely to sell in the near term;
5. Markets remain severely under-allocated to assets beyond BTC and ETH;
7. Hong Kong's pro-crypto policies are genuine and will open the door for Asian financial institutions to enter the crypto space legally.
