Bitcoin’s Bear Market Is Over, Says Strive CEO
TREE NEWS reports: Matt Cole, CEO of asset manager Strive, has declared that Bitcoin’s (BTC) bear market has ended, pointing to a rare “double breakout” against both the US dollar and gold in the same week. In a recent statement, Cole highlighted that the BTC/gold ratio has historically turned before the dollar price at key inflection points, suggesting that the current move signals a new bullish phase.
What Happened?
According to BeInCrypto, Cole’s analysis is based on Bitcoin’s simultaneous strength against fiat and the precious metal. He noted that at previous cycle bottoms, the BTC/gold ratio often bottomed first, followed by a sustained rally in dollar-denominated BTC price. This time, the pattern appears to be repeating, with both metrics breaking out within days of each other.
Industry Implications
If Cole’s assessment is correct, the implications are significant. A confirmed end to the bear market could attract institutional capital that has been waiting on the sidelines. The BTC/gold ratio is closely watched by macro investors as a gauge of Bitcoin’s store-of-value narrative. A rising ratio suggests that Bitcoin is outperforming the traditional safe-haven asset, reinforcing its role as “digital gold.”
Moreover, the double breakout may signal improving liquidity conditions and a shift in risk appetite. Historically, Bitcoin’s bear markets have lasted 12-18 months, and if this cycle is ending, we could see a sustained uptrend into 2025 and beyond.
Forward-Looking Perspective
Cole expects the next cycle to be the strongest Bitcoin has ever experienced, driven by growing institutional adoption, the upcoming halving event, and potential macroeconomic tailwinds such as Fed rate cuts. However, caution is warranted—breakouts can be false, and the market remains sensitive to regulatory news and macroeconomic shocks.
Investors should watch key levels: a weekly close above the previous high would confirm the trend, while a drop back below the breakout zone could signal a bull trap. For now, the sentiment is turning bullish, but prudent risk management remains essential.
