Why is this crypto bull run so much different than previous cycles? In previous cycles, we did not have a president of the United States of America launching meme coins.
We did not have a majority of retail trading meme coins. We did not have a majority of retail and trading volume in crypto coming from futures trading.
In 2017 and 2021, most of the trading volume was coming from spot trading.
In 2024, most of the volume, anywhere from 50% to 70%, was from futures trading volume in crypto and derivatives, leaving anywhere from 20% to 30% for spot trading volume.
What does that mean? It means more people are gambling in the market.
That's why when you see people get liquidated and you see these massive, massive liquidation candles going up and down for Bitcoin, 5K, 10K, like water, moves that in previous cycles we didn't see, it's because it's all part of the cycle. It's part of the game.
The market makers, the exchanges, the insiders, how do they make money off you? Off the people who are gambling.
And guess what most everyone is doing in crypto right now? They're gambling, whether it's meme coins, whether it's futures trading, high leverage. And mind you, I'm a swing trader, and I'm only holding Bitcoin, Solana, Ethereum.
If that leaves around 20% to 30% of trading volume only in spots, it's safe to say about 50% of that is buying and selling. So there's not much buying happening.
It's more or less just gambling. So when are we going to see a normal cycle? Once futures and derivatives and gambling mentality in this market slowly pull back, meme coins slowly pull back, the interest goes back into utility, and Ethereum starts to finally, I would say, come back alive.
So yeah, when all of these things happen, maybe we'll finally start seeing some movement for altcoins in the market.
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