#创作者任务台 indications suggest that the cryptocurrency market may be entering a bull market season. The relevant evidence and analysis are as follows:

• Market data shows strong performance: Bitcoin's market dominance has strongly broken through the 60% mark, reaching a historic high since 2021, with a market capitalization of $1.3 trillion. On August 9, the price of Bitcoin surpassed $117,000, with an increase of over 1% within 24 hours, while Ethereum surpassed $4,200, showing an increase of over 8% within 24 hours, and continued to rise on the 10th, breaking through $4,300, setting a new high since the end of 2021.

• Clear signs of capital inflow: Institutional investors have crazily increased their holdings in spot ETFs by over $17 billion; for example, in the second quarter of 2025, the Harvard Endowment Fund purchased 1.9 million shares of the BlackRock iShares Spot Bitcoin ETF. Under expectations of interest rate cuts by the Federal Reserve, risk-averse funds have massively shifted to the Bitcoin market.

• Technical indicators are favorable: The cryptocurrency market is in the mid-cycle of its sixth bull market and is experiencing an upward phase. The 50-day moving average of Bitcoin has crossed above the 200-day moving average, which is a positive technical signal. Historical backtesting data shows that this indicator has positive returns in mid-term in over 80% of cases.

• Market sentiment is relatively optimistic: The cryptocurrency world is exhibiting a typical bull market atmosphere, with a sudden emergence of “crypto gurus” in social circles, people sharing gains daily in groups, and a widespread anxiety of “if you don’t buy now, it will be too late.”

However, the cryptocurrency market has a high degree of uncertainty and risk. On one hand, different countries have varying regulatory attitudes toward cryptocurrencies, and policy changes could have a significant impact on the market; on the other hand, there are prominent technical security issues in the cryptocurrency market, such as hacker attacks that could lead to losses of investors' assets.