DeFiance Capital founder: I believe the bear market has officially ended in 2022-23.

BlockBeats News, on July 14th, Auther, the founder of DeFiance Capital, stated on social media that he personally believes that July 14th, 2023 marks the official end of the bear market for 2022-2023, for the following reasons: 1. The worst macroeconomic contraction is over, CPI is decreasing, and real interest rates are positive. It is possible to see interest rate cuts next year. 2. Since BlackRock applied for a Bitcoin ETF, institutions have been accepting cryptocurrencies as an asset class. 3. If the SEC cannot win against the token (XRP) that is most likely to be defined as a security, the possibility of other tokens being confirmed as securities is greatly reduced. 4. Most short-term speculators have left, and except for some clear unlocking schedules, holders may not sell in the short term. 5. The market is severely under-allocated in non-BTC and ETH assets. There is a lot of work to be done. 6. Hong Kong's welcoming policy towards cryptocurrencies is real, which will open the door for Asian financial institutions to enter the cryptocurrency market in a legal manner.