Bitcoin May Be Near a Bottom as OKX Europe CEO Sees Crypto Recovery

Key Takeaways

• OKX Europe CEO Erald Ghoos believes that the crypto market may have found its bottom, with capital rotating from AI and semiconductor stocks back into Bitcoin.
• Bitcoin surged above $72,000 after breaking out of a weeks-long trading range, helped by renewed support from President Trump for the Clarity Act.
• Regulatory clarity could drive wider crypto adoption, while MiCA is already shaping Europe’s digital asset market.

Erald Ghoos, CEO of OKX Europe, suggested the cryptocurrency market may be approaching a bottom as money that moved into artificial intelligence (AI) and semiconductor stocks begins returning to digital assets.

Ghoos made the comments shortly after Bitcoin broke out of a weeks-long trading range amid renewed support from President Trump to pass the Clarity Act. Bitcoin later climbed as high as $72,300 during European trading on Thursday, extending a broader crypto market rally.

Ghoos said, “If and when the Clarity Act gets passed, I think that will blow new life into crypto enthusiasm and trust in the biggest economy in the world, which will then also transpire to the rest of the world.”

He continued, "With more institutional interest than ever, regulatory clarity from the U.S. and Europe, DeFi being more accessible, the pieces of the puzzle are starting to fall together for real mass adoption.”

However, not everyone at OKX shares the same view on regulation. OKX Global Managing Partner Haider Rafique recently argued that much of the optimism surrounding the Clarity Act is already priced into BTC.

Rafique said, “The market prices news ahead of time. Most of the appreciation from Clarity is already reflected in current prices.”

AI Capital Could Return to Crypto

Ghoos also highlighted a rotation away from AI and semiconductor investments as another potential catalyst for digital assets. He believes capital that moved into AI stocks, semiconductors, and other high-growth assets could eventually return to cryptocurrency as investors search for new opportunities.

According to Ghoos, "A lot of the money that flowed into semiconductors, AI stocks, and SpaceX will find a way back into crypto. I think there was a hype, and I think a lot of that capital will eventually find its way back into digital assets."

The shift matters as AI-related memory and semiconductor stocks have been among the market's strongest performers in 2026. Their recent decline is now leading investors to question whether the upward trend is ending.

Another key factor to watch is retail activity. Trading volumes at leading South Korean exchanges Upbit and Bithumb have fallen by about 50% for the first half of this year. But Ghoos believes retail traders haven't permanently left crypto; they'll return when market momentum shifts.

MiCA Reshapes Europe’s Crypto Market

Ghoos also highlighted the significance of Europe’s regulatory transition under the Markets in Crypto-Assets (MiCA) framework. Previously, he predicted that roughly 80% of crypto exchanges would not survive the cost and complexity of complying with MiCA.

Before MiCA, more than 1,200 virtual-asset service providers operated in Europe, while about 210 firms had received MiCA authorization by late June.

After Binance stopped serving EU customers when it failed to secure a MiCA license, OKX reported a 160% increase in European Union app downloads in the 12 days that followed.

Regulatory clarity, increased institutional participation, and a possible rotation of capital from AI-related assets could give crypto a stronger long-term foundation. For now, the focus is on whether Bitcoin can stay above $70,000 and build on its recent gains.

 

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