Regarding the development stage of the current bull market, we need to analyze multiple dimensions in depth. First of all, from a cyclical perspective, this bull market seems to be significantly affected by ETFs, which accelerates the process of the bull market. Based on this, I believe that we are currently in the transition stage from the beginning of the bull market to the middle stage of the bull market, but we have not yet entered the true middle stage of the bull market.
At the financial level, the market value of stablecoins has not shown a more significant growth than the previous bull market, and its growth trend has gradually slowed down. In addition, market funds are limited and the leverage effect is obvious, resulting in obvious market rotation. Therefore, we have not yet seen clear signatures of the acceleration phase in cattle.
There are only 37 days left before the halving event, which will cause some old mining machines to face shutdown problems. At the same time, the current mining landscape has changed significantly compared to the last halving. It is still difficult to determine whether miners will adopt a sell-off strategy to acquire mining machines at low prices this year. After all, ETFs often engage in bargain-hunting operations, which increases the risk of market crashes.
It is worth noting that BTC’s market capitalization ratio remains at 51%, which means that funds have not yet flowed into the small currency market in large quantities. This phenomenon also further proves the view that the bull market has not yet arrived. Therefore, now is a good time to deploy small coins.
Looking back at the last bull market, new concepts such as Defi, NFT, and Gamefi contributed a lot of bubbles to the market. In this bull market, new narratives and concepts such as AI, inscription, modularization, L2, and re-pledge have also attracted the market's attention. The trend of project segmentation and innovation is becoming increasingly obvious, and excellent new projects are emerging one after another. However, these projects are still waiting for the arrival of incremental funds from the market, and the bubble has not yet fully inflated.
To sum up, the current market is in the transition stage from the early stage to the middle stage, and multiple factors such as capital flow, mining farm pattern and the emergence of new projects jointly affect the market trend. Investors should fully consider these factors when making plans in order to better seize market opportunities.
At the financial level, the market value of stablecoins has not shown a more significant growth than the previous bull market, and its growth trend has gradually slowed down. In addition, market funds are limited and the leverage effect is obvious, resulting in obvious market rotation. Therefore, we have not yet seen clear signatures of the acceleration phase in cattle.
There are only 37 days left before the halving event, which will cause some old mining machines to face shutdown problems. At the same time, the current mining landscape has changed significantly compared to the last halving. It is still difficult to determine whether miners will adopt a sell-off strategy to acquire mining machines at low prices this year. After all, ETFs often engage in bargain-hunting operations, which increases the risk of market crashes.
It is worth noting that BTC’s market capitalization ratio remains at 51%, which means that funds have not yet flowed into the small currency market in large quantities. This phenomenon also further proves the view that the bull market has not yet arrived. Therefore, now is a good time to deploy small coins.
Looking back at the last bull market, new concepts such as Defi, NFT, and Gamefi contributed a lot of bubbles to the market. In this bull market, new narratives and concepts such as AI, inscription, modularization, L2, and re-pledge have also attracted the market's attention. The trend of project segmentation and innovation is becoming increasingly obvious, and excellent new projects are emerging one after another. However, these projects are still waiting for the arrival of incremental funds from the market, and the bubble has not yet fully inflated.
To sum up, the current market is in the transition stage from the early stage to the middle stage, and multiple factors such as capital flow, mining farm pattern and the emergence of new projects jointly affect the market trend. Investors should fully consider these factors when making plans in order to better seize market opportunities.
