Coinbase CEO Brian Armstrong Predicts Upcoming Crypto Bull Market

Coinbase CEO Brian Armstrong believes that crypto spot trading is nearing its next bull market, referencing previous bear cycles lasting approximately 370 to 380 days. He made these comments on CNBC following a meeting at the White House with crypto executives and regulators hosted by President Donald Trump. Bitcoin (BTC) has recently surpassed 78000 dollars. Armstrong's prediction comes after a period of declining trading volumes and price volatility. Spot turnover across 14 major exchanges fell 21.7% in July to 429.0 billion dollars from 547.9 billion dollars in June, with every exchange reporting a monthly decline. Binance led with 196.5 billion dollars, accounting for 45.8% of the total, while Coinbase experienced a 26.4% drop, the second largest after Bitfinex's 59.7%. Derivatives also decreased, down 11.1% to 3.03 trillion dollars, although the futures-to-spot ratio increased to 7.06x from 6.21x, indicating greater leverage use by traders. The Fear and Greed Index remained low at 29 on August 13 but surged to 71 as Bitcoin rose about 22% since August 19, when the Treasury announced increased bond buyback operations. Armstrong cited the upcoming Senate vote on the CLARITY Act and the traditionally strong months for Bitcoin from October to December as potential catalysts for the bull market. However, analyst Benjamin Cowen warns of a possible final selloff if historical trends repeat.

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