🎉 [Gate 30 Million Milestone] Share Your Gate Moment & Win Exclusive Gifts!
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Bitcoin and Cryptocurrency Market Approaching the Summit: Is a Major Crash on the Horizon? - Coin Bulletin
The cryptocurrency market has been following a pattern of growth and decline cycles for a long time, with an overall upward trend in prices. However, it is believed that the current bull cycle, which started in January 2023, is now approaching its final stages.
According to the analysis of one of the CryptoQuant observers, Bitcoin has achieved significant gains in both duration and price in this cycle. The entry of new investments and the provision of additional funds by existing investors indicate that the market has seen a significant capital inflow in this cycle. This situation may indicate that the cycle is now entering the final stage.
Bitcoin's movements and the peak of the cycle
The rate of turnover of Bitcoin in the last month, according to realized market cap (realized market cap - UTXO) data, is at 36 level. Although this rate is lower compared to the peaks of past cycles, the long-term trend continues to be downward. This trend suggests that the market may peak in the first quarter of 2025 or at the latest in the second quarter.
However, as in past cycles, it is expected that this rate will sharply rise several times and the market will experience overheating. This situation usually leads to a transition to a bear cycle. Therefore, the expectation of more gains in both Bitcoin and altcoins is still on the table.