The main reasons why 2025 may become a bull market in the cryptocurrency circle are as follows:

1. **Macroeconomic environment**: As the Federal Reserve's monetary policy becomes increasingly loose, it is expected that the Federal Reserve's interest rate cut measures in October will further reduce interest rates and stimulate market liquidity. The weakening of the US dollar also plays an important role in the crypto market. This loose monetary policy may bring new liquidity to the cryptocurrency market, thereby promoting market growth.

2. **Market trend**: In October of the past few years, Bitcoin has risen by an average of more than 15%, showing the so-called "Uptober" phenomenon. If this trend continues, coupled with the Federal Reserve's interest rate cuts, increased global liquidity, and the entry of institutional funds, the market's upward trend may be further strengthened.

3. **Technological development**: Ethereum's ecosystem is still in rapid development in 2024, DeFi has entered the multi-chain era, Meme coins continue to attract speculators, and the combination of GameFi and NFT will be further deepened in 2024. These technological advances and the expansion of application scenarios may attract more investors and users to the cryptocurrency market.

4. **Political factors**: The impact of the approaching US election on the crypto market cannot be ignored. The election results may have a significant impact on the regulatory policies of cryptocurrencies. If the policy environment after the election is more friendly to cryptocurrencies, it may have a positive impact on the market.

5. **Market sentiment**: As the technical aspects of Bitcoin and Ethereum show strong support, market sentiment may gradually turn to optimism. If Bitcoin can break through key resistance levels and set new highs, it may trigger a follow-up effect in the market and push the entire market into a bull market.

6. **Historical cycle**: Historically, the cryptocurrency market is cyclical and usually experiences a big bull market cycle every four years. Considering that the last big bull market was in 2017, according to this cycle, 2025 may usher in the next big bull market.

It should be noted that despite these positive signals, there are still uncertainties in the market, including political and policy uncertainties, as well as risks such as potential hacker attacks and market manipulation. Investors should be cautious when participating in the market and do a good job of risk management.