Bitcoin Bull Run Expected to Reach Its Peak in 2025, According to Blockchain Company’s Cycle Forecast
The value of Bitcoin kicked off the year with a robust trajectory, bolstered by the debut of spot ETFs in January. This surge in the leading cryptocurrency’s price attracted a fresh wave of investors, propelling it to a record high of $73,737 by mid-March.
However, Bitcoin’s pace has since tapered off in recent months, prompting speculation among investors and crypto enthusiasts about the potential conclusion of the bullish cycle. Insights from a blockchain company have provided a tentative timeline for Bitcoin’s bull run.
A recent report by crypto intelligence firm IntoTheBlock delves into Bitcoin’s behavior during a halving year and its impact on the bull cycle. Following the fourth halving event in April, where miners’ rewards decreased from 12.5 to 6.25, Bitcoin has seen a 12% decline from its halving price of $63,900.
Despite the theoretically positive implications of Bitcoin halving, the post-event period has not been entirely favorable for the cryptocurrency. Data from IntoTheBlock indicates that BTC’s current position, while exceeding pre-halving expectations, still raises concerns among investors. Nonetheless, the lackluster performance post-halving may not signify the end, as Bitcoin’s price appears distant from its cycle peak.
IntoTheBlock’s analysis suggests that historically, the average duration between a Bitcoin halving and the subsequent peak is approximately 480 days, hinting at a potential cycle peak around the summer of 2025.
Bitcoin has maintained a consolidation range between $55,000 and $69,000 over the past two quarters. A decisive breach above the $70,000 mark could signal a resurgence of the bullish cycle.
CryptoQuant CEO Ki Young Ju echoes a similar sentiment regarding Bitcoin’s current bull cycle, suggesting that it is still in progress and has not yet reached a retail bubble phase characterized by a significant influx of retail investors.
Notably, there is a decline in BTC demand in certain markets, notably the United States, as evidenced by the diminishing dominance of Coinbase spot trading volume, which has reverted to pre-spot ETF levels. Young Ju emphasizes the necessity for a rebound in US BTC demand to reignite the bull cycle.
The CEO anticipates a potential rebound in the fourth quarter, although uncertainties persist. At present, Bitcoin is trading around $54,000, reflecting a marginal 0.5% increase in the past 24 hours. However, the cryptocurrency has experienced an over 8.5% decline in the previous week, according to CoinGecko data.
