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According to analytics company CryptoQuant, the cryptocurrency market is now in the “late stages of the current bull cycle” and investors are “advised to exercise caution.”

CryptoQuant analyst Dan Crypto said the bull cycle that began in January 2023 will likely peak in the first or second quarter of 2025.

Over the last three months of 2024, the share of bitcoins traded for less than 30 days has grown to 36%. This is reminiscent of the highs of previous cycles. This ratio, according to the analyst, can grow by another 2-4 times, and then correct at the beginning of the bear market.

Given the significant influx of new investment, as well as additional funds from existing investors, it is reasonable to expect that the market is now in the late stages of this cycle. However, expectations for significant growth in both Bitcoin and altcoins remain, the report says.
CryptoQuant's forecast is in stark contrast to other analysts, who expect the bull market to continue until almost the end of 2025, with a correction only occurring in the fourth quarter.

For example, asset manager VanEck expects the crypto bull market to reach a “medium-term peak in Q1 2025, and then rise to record highs by the end of the year.” Analysts at Steno Research say this year will be the best for digital assets, with Bitcoin and Ethereum poised to hit new highs.

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Pierre Rochard, vice president of cryptocurrency mining company Riot Platforms, said that in 2024, the Bitcoin blockchain processed transactions worth more than $19 trillion.

Compared to 2023, the value of BTC sent has increased by 121%. This has broken the negative trend associated with a decrease in the volume of transfers that was observed between 2022 and 2023. According to Roshar, these statistics indicate that Bitcoin is not only a tool for saving capital, but also a means of exchange.

Change in the amount of transactions in the Bitcoin network

However, the progress of the Bitcoin blockchain should be assessed with a grain of salt, because the number of transferred coins, if it has increased compared to 2023, has increased only slightly. The fact is that in 2023, BTC cost no more than $44,000, and last year its price increased to $108,364. Accordingly, the amount of transactions made has increased significantly due to the growth in the value of the cryptocurrency.

It is obvious that the increase in the amount of transfers in dollar equivalent led to an increase in the income of mining enterprises. Judging by the increase in the computing power of the network, which reached a historical maximum of 1000 exahash per second on January 3, 2025, enterprises mining digital assets spent part of the revenue on the purchase of new equipment.
However, this did not play into the hands of blockchain users, because the average fee for confirming transfers remained high and sometimes amounted to $8.36.

Bitcoin Network Hashrate Growth.

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We wish you good health, happiness, financial prosperity and success in the new year.

May the year 2025 bring you many reasons to be happy and achieve all your goals.✨

We would also like to inform you that our company is going on vacation break from December 31, 2024 to January 6, 2025 (There will be no profit accruals or withdrawals during these days).

Thank you for your trust and support!

We look forward to new accomplishments together with you next year.

Best wishes,
CELESTION Team!

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