Three stages of blockchain knockoff bull market
Niuchu: Fund preference for low-risk assets, BTC leading the rise, ETH slightly rising, and altcoins stagnating.
Bullish: Market confidence has recovered, funds have turned to high-risk assets, ETH has risen more than BTC, and there has even been a situation where ETH rises while BTC falls. Shanzhai coins have not yet erupted.
Bull Tail: The market has entered a crazy phase, with altcoins and Meme skyrocketing, while BTC and ETH hit historic highs before collapsing.
Historical Market Review:
Both the bull markets in 2017 and 2021 followed the above pattern, with ETH increasing by 15 times and BTC increasing by 3 times in 2017; In 2021, the price of ETH in Niuzhong increased by more than 2 times, while BTC increased by 1.6 times.
Analysis of the bull market in 2025:
The entry of institutional funds brings new changes, but the three-stage rule of bull market still applies.
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In 2024, influenced by ETF approvals and other factors, there will be an institutional led “barbell bull market” (BTC rising, Meme skyrocketing, traditional altcoins stagnating).
From April to July 2025, it will be the beginning of the bull market (led by BTC), and from the end of July to present, it will be the middle of the bull market (led by ETH, with BTC stagnating).
It is expected that the bull market will continue until the end of September or October, and then enter the tail of the bull market (with the outbreak of altcoins and the chaotic flight of Meme coins). BTC and ETH may reach new highs before the market rebounds.
The current market is in the bull phase, driven by a shift in capital risk appetite, and fundamentally still reflects human fear and greed. Although institutional power changes the market structure, the bull bear cycle pattern remains unchanged.