MEXC CEO Vugar Usi Zade states Bitcoin is transitioning from a bearish phase into a sustainable bull market driven by strong institutional adoption and confidence. Bitcoin has recovered 32% in the last 90 days and could reach $176,000 if institutional demand and economic conditions improve. Large holders are accumulating Bitcoin, as evidenced by significant BTC transfers to new wallets and net outflows from exchanges, reducing available supply. Institutional interest is also rising with $175.69 million daily inflows into Bitcoin Spot ETFs and 60 public companies holding 1.27 million BTC, reinforcing Bitcoin's market foundation and support around $80,000.
The MEXC CEO's views on Bitcoin's market cycle come with Pluang market data as of Oct 15, 2026 01:31 WIB: Among 50 major cryptocurrencies priced on Pluang, only 6 rose while 43 fell today. Notable movers include FIL (Filecoin) at Rp19.561 with a 1-day change of -4.59%, SUSHI (SushiSwap) at Rp4.065 down 4.25%, and THETA (Theta Network) at Rp3.535 down 4.15%, with THETA showing 100% buy order activity. The most notable figure is FIL's typical hold time on Pluang of 99 days.
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