Murad Claims Crypto Bull Market Still Ahead Despite Bitcoin’s Price Dip

Bitcoin retreated from an $83,000 peak to trade at $81,730.70, a 1.2% decline over 24 hours. Despite the cooling price action, institutional interest remains active. U.S. spot Bitcoin exchange-traded funds recorded $526.7 million in net inflows on Oct. 19, a surge that trimmed October’s net withdrawal total to $88 million. BlackRock’s IBIT led the charge with $665.2 million in subscriptions, though redemptions at Fidelity’s FBTC and Grayscale’s GBTC partially offset the influx.

Beneath the surface, market indicators present a mixed picture. Glassnode reports that while futures demand for bullish exposure has grown, aggressive selling pressure persists on centralized exchanges. Furthermore, options positioning indicates a persistent demand for downside protection as implied volatility climbs. Historical data from Binance Research adds a layer of caution, noting that previous rebounds of this nature have often failed to sustain momentum, with four out of five similar historical cases eventually breaking their prior lows.

Analysts remain divided on the market’s trajectory. While some, like CryptoQuant founder Ki Young Ju, project a three-to-fivefold gain for the current cycle driven by institutional adoption, others remain more skeptical. Fidelity’s recent outlook warned that the current rally could prove temporary, leaving open the possibility of further declines before a genuine recovery takes hold.