Coinbase CEO Signals Crypto Bull Market Near as Treasury Buybacks and Macro Shifts Push Bitcoin Over $78K

Coinbase CEO Brian Armstrong says spot crypto trading is breaking out into its next major expansion phase as historical cycle patterns align with macroeconomic tailwinds. Bear phases historically run roughly 370 to 380 days, placing current spot market conditions directly at a macro turning point.

Months of declining spot turnover had squeezed major exchanges, yet leverage climbed as traders stacked positions in the derivatives market. A sharp jolt in macroeconomic conditions flipped momentum when the US Treasury doubled its bond buyback operations to $4 billion per quarter starting in September.

Treasury yields pulled back following the liquidity announcement, pushing capital back into risk assets. With high-level White House discussions hinting at strategic national reserves, Bitcoin surged more than 20% to top $78,000 as market sentiment rapidly flipped toward greed.

Regulatory milestones like the upcoming CLARITY Act vote and traditional post-halving Q4 strength provide further momentum. While analysts warn that leveraged liquidations remain possible, macro liquidity pipelines indicate the broader structural expansion has already begun.