What is needed to enter another bull market? Wei Zhou shared his thoughts. | Source: CCN.
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Key Takeaways
Former Binance CFO Wei Zhou gave three ways the next crypto bull market will begin.
Zhou argued crypto remains in a bear market.
His comments came in response to a post blaming Binance’s margin infrastructure for amplifying the October 10-11 market crash.
Former Binance Chief Financial Officer Wei Zhou outlined what he believes are the three developments most likely to trigger Bitcoin’s next bull market, while arguing the crypto market remains in a bear phase following October’s sharp selloff.
The comments came in response to a lengthy post that blamed Binance’s derivatives infrastructure for amplifying the October 10-11 market crash, one of the largest liquidations in crypto history.
Zhou later said the industry still needed “a proper post mortem” to rebuild confidence after the event.
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In a post on X, Zhou said the next crypto bull market could begin once several key developments fall into place.
The first catalyst, according to Wei, is Google and Facebook launching their own blockchains for developers to “launch tokens.”
However, for that to happen, he said the second catalyst would be needed: the passing of the US CLARITY Act.
Former Binance Chief Financial Officer Wei Zhou didn’t hold back. | Source: X (@thedaoofwei)
As of early July 2026, the bill remains under Senate consideration after advancing through committee stages, but it faces delays due to unresolved issues, including stablecoin provisions.
Wei’s third catalyst focused on China further easing its restrictive policies on crypto activities.
Beijing has maintained tight controls on crypto trading and mining since 2021, though occasional signals of selective easing have sparked buzz across the industry.
Zhou’s Bear Market Outlook
Explaining why he believes crypto remains in a bear market, Zhou cited three factors.
“ALL the whales got nuked going into Uptober on Oct 10/11,” he wrote.
He also pointed to “lack of transparency from Binance,” adding that “people still dont 100% trust their system won’t crash again if Trump makes another statement on a weekend.”
Finally, Zhou said capital had shifted elsewhere, writing:
“Bull run in AI Hardware, so much easier to make money there.”
In a follow-up post, Zhou added: “I think we deserve a proper post mortem for October 10/11. Only to restore trust.”
Binance Infrastructure Amplified October Crash?
Zhou’s bull and bear market comments came in response to an X post arguing that Binance’s margin system, rather than President Donald Trump’s tariff announcement alone, turned the October 10-11 selloff into a broader market collapse.
The post claimed Binance’s “margin system architecture created the conditions for cascade failure” during the event.
It alleged the exchange’s systems froze as traders attempted to move collateral and manage positions.
Binance's margin system architecture created the conditions for cascade failure
On October 10, 2025, $19 billion in leveraged positions evaporated in hours. The official narrative blames Trump's tariff announcement and excessive leverage. That's technically correct but… pic.twitter.com/GHVqY2ARXx
The post further argued that Binance’s handling of Ethena’s USDe as collateral, together with pricing issues during the selloff, contributed to forced liquidations.
According to the post, Binance’s infrastructure failure played a central role in the $19 billion in leveraged positions that were wiped out during the crash.
Binance has previously acknowledged temporary trading disruptions during the October volatility, but has disputed claims that its systems were responsible for the broader crash.
Fidelity Also Identifies Five Potential Bull Market Catalysts
However, Fidelity cautioned that historical patterns do not guarantee future price gains and said even a combination of those factors may not be sufficient to trigger another rally.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
