Bitcoin's 40% Rebound Sparks Debate Over Bull Market Status

Bitcoin's recent price surge of nearly 40% from its late-June low has ignited debate among investors over whether the bear market has ended. On the WuBlockchain Podcast, investor Didier and portfolio manager Griffin Ardern discussed their differing views on the matter.

Didier believes that Bitcoin's reclaiming of its 200-day moving average is an early signal of a new bull market. He pointed out that the rally marked the opening phase or very early stages of a bull market, according to his view.

Griffin, however, countered that the bear market persists until dollar liquidity and Treasury yield signals turn clearer. He argued that the rally reflected a short squeeze after weeks of thin trading and compressed options volatility.

The two guests also discussed Strategy's balance sheet as a factor in whether momentum can hold. Didier clarified that STRC, one of Strategy's preferred-stock products, is perpetual preferred stock rather than traditional debt, which eased fears of a forced default.