A bull market always quietly arrives when most people do not believe it.
While everyone is still immersed in the bear market's pullback, the zeroing of altcoins, and the K-line's 'dead fish chart', smart money has quietly built positions, and the next opportunity for wealth freedom may be right in front of us.
2025, this year is destined to be extraordinary.#美联储比特币储备
Bitcoin#BTC high-energy hash rate, Ethereum#ETH a 100-fold expectation, new funding structure, narrative reconstruction, macro wind change... various dimensions of the crypto market are quietly brewing a super storm.#特朗普允许401(k)投资加密货币
In this article, we won't talk about feel-good stories, only logic, structure, opportunities, and rhythm. From BTC, ETH, to potential altcoins, we will systematically outline the direction of the next bull market📈, helping you to avoid detours and hit the right beats.
🟡 BTC: From the perspective of 'energy value', is Bitcoin's price undervalued by 45%?
Bitcoin may currently be in a state of extreme undervaluation—not an emotional judgment, but based on the energy value model's hard logic.
This model was proposed by Charles Edwards, founder of Capriole, in 2019, suggesting that the 'fair value' of BTC should be determined by miners' energy input, supply growth, and a constant value of energy in USD. Simply put, the higher the hash rate and the more secure the network, the higher the 'theoretical value' of BTC.
Currently, Glassnode data shows that Bitcoin's hash rate has surged to a historical high, breaking 1.031 ZH/s, while the corresponding energy value has reached $145,000, and the current market price of BTC is still around $116,000, which is 31% lower than its energy value!
What does this mean?
👉 Bitcoin's 'reasonable value' is underestimated by 45%.
This not only means that BTC is expected to rebound but also indicates that the current market is in the early accumulation stage of the bull market structure, with the real main rising wave still ahead.
Looking back in history, whenever Bitcoin's price is significantly below its energy value, a strong mean reversion usually follows. If we are in the golden one-year window after halving (which is now), there is a high probability of forming a trend-up structure.
Target price? You can start to imagine boldly—$180,000? $200,000? Or even higher, it’s not groundless.
🔵 Ethereum: Can ETH increase 100 times? It’s not a fantasy, but a structural opportunity.
In today's consensus that 'Bitcoin is digital gold', Ethereum, as 'the operating system of the digital economy', is迎来它的黄金时代.
Tom Lee stated in a recent interview: 'The upward potential of ETH may be greater than that of BTC.' He even boldly asked, 'Can ETH increase 100 times?' This is not just talk; it’s based on the broader practical application foundation of ETH.
Why is ETH more capable of long-term explosive growth?
☑️ Smart contracts + stablecoins + AI + RWA = Multi-track narrative binding.
Ethereum is not just a financial protocol platform; it is also the underlying architecture for DeFi, AI, tokenization, RWA, and other future new financial ecosystems.
Kai-Fu Lee even referred to it as the 'foundation of the US AI strategy', which means ETH is gaining 'national-level' narrative endorsement.
☑️ Current price is severely undervalued.
Tom Lee believes that the current reasonable value of ETH should be $6,000, whereas ETH is still consolidating below $4,000.
Compared to last year's ETH/BTC ratio of 0.05, ETH is currently stronger and has more solid structural support.
In other words, ETH has the potential to replicate BTC's explosive trend in 2017. For investors keen on medium to long-term layouts, ETH at this stage is a choice with a very high risk/reward ratio.
🟢 2025: The 'main rising wave axis' after the halving has been initiated.
If 2024 is the signaling year for a halving, then 2025 is the 'main rising wave axis year' of the Bitcoin halving cycle.
Looking back at history:
After the 2012 halving, a surge occurred in 2013.
After the 2016 halving, a bull market emerged in 2017.
After the 2020 halving, the peak occurred in 2021.
And now—completing the halving in April 2024, just as 2025 enters the 'cycle explosion phase'. We have already seen institutions entering, ETF approvals, and funds gradually increasing, while most retail investors are still doubting, observing, and waiting for 'better pullback points'.
📍 Why is it said that the bull market has already started?
The social media is quiet, a sign of the bull market.
At the beginning of a true bull market, it is actually the time when sentiment is the worst and confidence is at its lowest. You are not alone.Institutions have quietly completed their layouts.
Look at those top funds, VCs, and mainstream exchanges; they have silently completed their position allocations while you are still watching the excitement?The macro environment is starting to warm up.
The Fed is slowing down interest rate hikes, risk assets are regaining strength, commodities and tech stocks are rising together, and crypto assets are迎来双重红利.The upper boundary of the BTC channel is $200,000.
From a long-term channel perspective, Bitcoin's price could reach the $180,000 to $240,000 range, and this is not the end, but a relay.
🧬 Altcoins: The next 'wealth engine' is starting!
Mainstream coins are already on the way; what about altcoins? In fact, several sectors and coins' fundamentals, structures, and funding are brewing for an explosion.
🔹 UNI: Can the 'charging proposal' of decentralized exchanges trigger an explosion?
If the proposal for Uniswap's 'charging switch' is approved, UNI holders will directly participate in platform profit sharing, which will be a qualitative change for token value capture!
Current prices have yet to reflect the platform's actual value.
Anti-regulatory attributes + DeFi recovery is a natural narrative combination.
Could we replicate BNB's explosive path? It might be just around the corner.
✅ Mid-term target: $20.
✅ Mid to late-stage bull market impact: $50-$100, not a dream.
🔸 AAVE: A stable performer, a top choice for large funds.
AAVE is an established DeFi blue chip with a certain upward logic.
There is still room to double compared to the historical high.
Compared to a bunch of zero-value altcoins, AAVE belongs to the assets that 'outperform the market'.
If you feel distressed about the high price of BTC and ETH, AAVE is a good choice.
🔸 TRUMP: A global-level narrative + on-chain accumulation may lead to a second explosion.
Don't underestimate TRUMP—it has surged hundreds of times from the bottom, but its price has been consolidating for 8 months, and the risk has been released.
Similar to the structure of SHIB/PEPE.
Global narratives + new entrants + strong on-chain data = second explosive structure.
If the rebound continues, $20 is not the endpoint.
🔸 CFX: The structural washing is over, and potential remains.
One of the strongest performers among domestic projects. The recent consolidation trend seems to be a washout rather than a bait, with potential benefits including:
Cooperating with ACH to develop stablecoins.
RWA/stablecoin themes resonate.
Although the market attention is low, low attention = easy to pump.
🔸 SPK: A niche new star that may become a dark horse in RWA/stablecoins.
Information is scarce, and heat is low, but precisely because of this, it is easy to become the 'cold start' token for a market explosion.
Related to the two major narratives of RWA + stablecoins.
Main funds have traceable patterns, and there are obvious signs of control in the K-line.
Current low-level hidden values are extremely high, suitable for stealthy players.
✅ Conclusion: When the rhythm is right, everything is right.
Will the bull market really come in 2025?
We don't speak of 'faith', only structure and data. Whether it’s BTC's energy value model, ETH's multi-track narrative, or altcoins' structural underestimation, this round of the bull market has quietly started.
Please remember:
A bull market doesn’t wait for you to 'understand' before it starts; only by truly participating will you benefit.
🌈 Don't wait for the 'confirmation of the bull market' to rush in; by then, it may no longer be your turn.
Now is the easiest time to earn 'certain dividends', and it is also a key window that determines the wealth level for the next two years.
Pay attention to the market, patiently lay out, and grasp the rhythm.
We all have the opportunity in this cycle to迎来我们的高光时刻！🚀
Many understand the trend, but few follow the rhythm.
The crypto market changes quickly, with opportunities and risks coexisting. Learning to enter and exit strategically and protecting your principal is essential for steady progress and wealth accumulation.
Remember to DYOR, manage risks well, and wish everyone good luck in the crypto market!🌊
Like👍, share, follow me for more interpretations of the crypto market dynamics! Let’s work hard together!
