Murad says crypto bull cycle has yet to begin as Bitcoin holds near $82K

Memecoin investor Murad has said the crypto bull cycle has yet to begin, with Bitcoin trading near $82,000 after U.S. spot Bitcoin exchange-traded funds recorded $526.7 million in daily inflows. Murad said crypto’s bull cycle has not begun, without giving a timeline or price target. Bitcoin ETFs drew $526.7 million on Oct. 19, reducing October’s net outflows to $88 million. Glassnode’s preceding weekly data showed continued selling despite stronger demand for bullish futures exposure. Binance’s historical study found four of five rebounds following shallow drawdowns later broke their previous lows. Murad’s Oct. 20 X post declared that the market’s main advance remained ahead, without setting a price target or giving a timeline.

First reported by crypto.news. This page is a short excerpt; the full text is theirs.