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Brett Harrisonpresident of FTX US, believes that the cryptocurrency market may recover faster if there is regulatory clarity, which would make traditional institutional investors more comfortable with the nascent asset class.

Additionally, Harrison believes that the robust US crypto futures and options markets need to become more robust. In this way, it would be possible to reduce volatility while making it easier for big companies to dip their toes into crypto.

Finally, the head of FTX US is convinced that the approval of a physical Bitcoin exchange-traded fund could accelerate another bull run. The U.S. Securities and Exchange Commission has yet to give the green light to such a product despite the fact that these ETFs are already trading in Canada and Australia.

Bitcoin, the largest cryptocurrency in the world, is trading slightly above the $20,000 level.

Earlier today, former BitMEX CEO Arthur Hayes warned that there would be more short sales.