Viewpoint: The real bull market has not yet arrived, just wait patiently

I believe this round of the crypto bull market has not truly arrived yet: 1. BlackRock and other institutions have been continuously increasing their BTC holdings; 2. The vast majority (over 95%) of mainstream cryptocurrencies have not reached the peak of the last bull market and are far from it, while a true bull market is characterized by a state of all arrows flying together; 3. The Federal Reserve's interest rate cuts are likely to last a long time and will probably be concentrated in the latter half of 2025 Q3 and Q4, with potential cuts even in Q1 and Q2 of 2026.

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1. BlackRock and other institutions continue to increase their Bitcoin holdings

BlackRock's recent active performance in the Bitcoin market has significantly enhanced institutional investors' confidence. In May 2025, BlackRock purchased approximately $409.7 million worth of Bitcoin through its iShares Bitcoin Trust (IBIT). Additionally, the fund absorbed $970 million worth of Bitcoin in a single day on April 28, increasing its total Bitcoin holdings to over 3% of market supply. These large-scale purchases indicate that institutional investors are optimistic about Bitcoin's long-term prospects and may signal that the market is about to enter a broader bull market phase.