Bitget CEO: Crypto Stuck in 'Monkey Market'

Gracy Chen, who runs Bitget, told @CryptoMichNL that the market has shifted from caution to euphoria in seven days even though underlying conditions have not changed. She labeled the environment a monkey market because price simply jumps up and down without clear direction.

Chen noted that many layer-1 and layer-2 networks plus Web3 applications are dead or dying, while stablecoins, tokenized stocks and RWAs continue to demonstrate genuine adoption. She said the real bull market still hinges on two uncertain events: passage of the Clarity Act and the start of U.S. government Bitcoin purchases.

BTC trades at $82278.33 beneath the EMA50 at $82979.74 while the EMA200 sits at $82245.54, confirming a bearish structure reinforced by the MACD death cross at -400.6. RSI at 47.5 remains neutral inside the Bollinger bands, so price is testing the upper band resistance at $84469.61 yet lacks momentum to break higher; a retracement toward the $82245.54 EMA200 support remains the highest-probability path before any sustained continuation.