CMC Research said that this bull market is affected by many factors and is about 100 days ahead of previous bull market progress. Bitcoin is expected to reach its peak from mid-May to mid-June 2025. (Preliminary summary: Bitcoin once fell to US$60,000! Miners' OTC market balance soared, a strong bearish signal?) (Background supplement: There is another killer of Bitcoin's plunge: 45,000 people on strike at the East Coast Terminal! JP Morgan Chase: Daily Economics (Loss of US$5 billion) Bitcoin staged a battle to defend US$60,000 last night. It fell below and then pulled back several times within four hours. The tug of war between long and short was quite fierce. It wasn’t until one o’clock at midnight that there was a more obvious increase, once exceeding $61,000. However, there has been a correction at the moment of writing and is now quoted at $60,571. If the next trend can be successfully established, the next resistance level is the $62,300 hit a few days ago. If it breaks through successfully, it will rise again; but if it falls below $60,000, it may have to retest 58,500. On the other hand, according to CMC Research, the research arm of the currency price tracking website CoinMarketCap (CMC), in the Q3 market research report released on October 3, they believe that this round of bull market has actually been accelerating and is faster than the typical four years in the past. A Bull Market Cycle May Be 100 Days Ahead, Cryptocurrency Appears to Have Entered a Super Cycle: Driven by institutional adoption, Bitcoin spot ETFs, and changing market dynamics, Bitcoin may have entered a super cycle. The peak of this bull market may come earlier than expected. We know that Bitcoin’s four-year bull market cycle is closely related to the Bitcoin halving mechanism. The block reward halving event every four years will cause Bitcoin miners to lose their blocks. Rewards are reduced, thus having a significant impact on the price of BTC. Bitcoin trends show a cyclical model of a bull market every four years. Source: Finance M Square However, CMC Research added that as of now, the progress of the Bitcoin bull market has reached 40.66%: This time, the Bitcoin bull market is about 100 days earlier than before, indicating that it will be in mid-May 2025. Bitcoin may reach its peak between mid-June. As for the reasons for the acceleration of this round of bull market, CMC Research said that it is mainly due to the fact that Bitcoin has developed so far and its correlation with traditional assets such as gold and technology stocks is increasing. At the same time, super bulls like MicroStrategy are also continuing to buy Bitcoin. , leading to Bitcoin’s halving is not the only factor driving the bull run. DeFi falls, Meme rises In addition, CMC Research also pointed out that in the current market, the lending, storage and other sectors in the DeFi field no longer have the glory of the last bull market, replaced by the enthusiasm brought by meme coins. In addition, the reach of artificial intelligence (AI) has also extended from the technology field to cryptocurrency. The combination of AI and blockchain has brought greater imagination and speculation to investors. Standard Chartered Bank: Geographical conflicts may cause Bitcoin to fall below $60,000. As for the possible short-term decline of Bitcoin, Geoff Kendrick, head of digital asset research at Standard Chartered Bank, also recently said that Bitcoin may be affected by geopolitical tensions in the Middle East. It fell below $60,000 before the end of the week, erasing all the market gains from the Fed's interest rate cut last month. However, Kendrick is not pessimistic. He said that the current decline of Bitcoin may not be a bad thing for investors, because the current market decline may just bring them new buying opportunities, because Trump and Harris are in The election competition for the US president is coming soon. As the Republican candidate Trump has repeatedly publicly supported cryptocurrency, his probability of winning on the prediction market Polymarket has once again surpassed Harris Harris, reaching 50%, which also indicates that the market may There will be a rise. Related reports Statistics of 1,200+ projects: Ethereum’s ecological failure rate is 20%, narrowly beating Solana, venture capital’s favorite Bitcoin network Bitcoin plummeted, “gold and oil pulled up”, why is it difficult for BTC to be used as a safe haven in war? Iran's missiles bombed Israel) Bitcoin risked losing 60,000 US dollars, Ethereum fell to 2,400 US dollars, and 150,000 people liquidated their positions to exceed 500 million US dollars. "Bitcoin held on to 60,000 US dollars." CMC: The peak of this round of BTC is expected to be in May or June next year "In March, the bull market will end sooner than imagined." This article was first published in BlockTempo (Dong District Dongchun - the most influential blockchain news media).

#BTC