The Bitcoin bull market may gradually fade within 2-3 months.

If Bitcoin follows the trend of 2020, the market is likely to peak in October, which is 550 days after the Bitcoin halving in April 2024.

Many market participants have overlooked the halving cycle and predict that the "extended cycle" may last until 2026. These participants are sidelining halving cycle indicators to "chase new narratives," such as the correlation between Bitcoin and the global M2 money supply.

Chasing new Bitcoin indicators is "an emotional behavior." However, some cryptocurrency analysts believe that, given the surge in institutional adoption of Bitcoin, the typical Bitcoin halving cycle is now less reliable, which was not the case in previous cycles.

#BTC