Coinbase CEO Brian Armstrong stated that the crypto spot trading market is "very likely" on the verge of the next bull market.

In an interview with CNBC, Armstrong highlighted the advancement of the U.S. Digital Asset Market Clear Act as a core catalyst, predicting that the procedural vote on September 15 could receive the necessary 60 votes for passage.

He noted that previous bear markets for Bitcoin typically lasted about 370 to 380 days, and the current correction cycle is approaching this historical duration; this forms a second basis for his judgment that the market may be nearing a turning point.

Armstrong also referenced Bitcoin's seasonal performance post-halving, stating that October, November, and December often show strong performance in past cycles. This pattern is based on a limited historical sample and should not be seen as a definitive basis for returns or price direction.

Armstrong mentioned that Bitcoin spot trading currently accounts for only about 12% of Coinbase's revenue, as the company expands into other crypto businesses; thus, his reference to a "spot trading bull market" corresponds to a business environment where trading activity, derivatives, custody, stablecoin, and institutional service demand may rise.

Mechanically, if the CLARITY Act advances, it could reduce uncertainty regarding token classification, trading venue registration, and federal regulatory boundaries, encouraging some institutional capital to increase allocation and product development willingness; however, congressional procedures, macro liquidity, ETF net subscriptions and redemptions, the dollar and real interest rates, and leveraged liquidations still dominate short-term prices. Beneficiaries include compliant exchanges, custodians, and liquidity providers, while projects relying on regulatory arbitrage or opaque issuance models may face stricter entry pressures.

Source: Public Information