Is the cryptocurrency bull market still ongoing and what is the outlook for the future?
Historically, looking at the Bitcoin halving cycles, there indeed exists a certain pattern of bull and bear markets. Bitcoin underwent halvings in 2012, 2016, and 2020, each followed by a bull market. In April 2024, Bitcoin completed its fourth halving, and based on past trends, the 12-18 months following a halving often represent the peak of a bull market; thus, 2025 may be a critical stage for the bull market.
In 2025, the cryptocurrency market is expected to be volatile, but the overall trend is optimistic. The market is shifting from retail investors' “get-rich-quick dreams” to institutions' “stable investments.” The entry of institutions like BlackRock and Fidelity has driven net inflows of over $35 billion into BTC spot ETFs in 2024. Bitcoin's market share may exceed 60%, while projects like ETH and SOL are favored by institutions due to their technical strengths. However, the traditional “altcoin season” may be delayed until the end of the year and may not perform as explosively as in previous bull markets.
2025 marks the first year after the Trump administration took office, and its pro-crypto stance injects a strong boost into the market. Countries like Japan and India may follow the U.S. lead by introducing clearer regulatory frameworks, which is beneficial for market development and price increases.
In 2025, the integration of artificial intelligence and blockchain, the revival of DeFi, and the tokenization of real assets, among other technological innovations and applications, are expected to bring new growth momentum to the market and sustain the bull market.
Overall, 2025 is generally considered to still be in the bull market phase for the cryptocurrency sector, but the market situation is complex and variable. Investors need to recognize the risks while paying attention to market opportunities, maintaining rationality and caution.
