The traditional peaking signal may be a reliable indicator, but the power of the latecomers in this bull market to lift the market may be beyond the imagination of previous currency investors. This article originates from a tweet written by researcher Metaquant, which was organized, compiled and rewritten by Shenchao. (Preliminary summary: How can micro-strategy be successful? Bloomberg: Bitcoin holdings surpass IBM, Nike and other asset reserves, and the stock price has doubled 20 times in five years) (Background supplement: Pennsylvania in the United States proposed a "Bitcoin Strategic Reserve" bill: dozens of investments are expected Billions of dollars hoarding BTC) In this cycle, not everyone can succeed. You need to change your way of thinking and get out of the popular thinking frame. Coinbase app rankings don’t tell you when the market’s top is coming. Start thinking from a different perspective. "When an indicator becomes a goal, it ceases to be a good indicator." In other words, when we set a specific goal, people tend to pursue this goal blindly and ignore other equally important factors. Additionally, I would say that most of the apex signals mentioned on CT this time around may not apply. The peak signals that were obvious in 2017 are no longer obvious in 2021, and the same will be true in 2024-25. We are entering a period of rapid growth in cryptocurrency adoption, and now all retailers are aware of cryptocurrencies – some heard of it in 2017, and by 2021 almost everyone has. Don’t mistake signs of adoption for signals of culmination. Don't let past trauma cloud your judgment. Another thing to note is the shift in influence – companies like BlackRock now control Bitcoin. They are the major ETF providers and hold shares in each other. Therefore, they are now able to influence the market sentiment for BTC. They also control many media platforms and can guide public opinion at will. In other words, if this market rally is driven primarily by institutional investment, then traditional retail metrics will no longer matter. The key indicators for this cycle will come from those who are not yet in the market. Yes, there may be those retail investors who haven’t been exposed to cryptocurrencies yet—the “late majority” and “laggards”—but you need to think from a larger perspective. Sovereign Wealth Funds Imagine countries with sovereign wealth funds starting to diversify into Bitcoin. Some countries already invest in stocks, so this scenario is possible. ・Saudi Arabia – USD 400 billion ・Abu Dhabi – USD 800 billion ・China – USD 1 trillion ・Norway – USD 1 trillion ・Australia – USD 150 billion ・Qadda – USD 300 billion ・Singapore – USD 500 billion Corporate Finance In 2021, we have already seen Tesla purchase Bitcoin, and recently Reddit revealed some of its cryptocurrency holdings. This trend is just getting started. When you see more and more companies diversifying into cryptocurrencies every day, it might be time to consider reducing your risk. Stock Market Initial Public Offering (IPO) Coinbase’s 2021 IPO was the first major crypto company to list on the stock market. We may see dozens of crypto IPOs this time, and one of those listings could mark the top of the market. Overuse of Leverage In the final stages of a bull market, large hedge funds, companies, and even small countries may overuse leverage and end up suffering losses, which may be another situation we see in this cycle. Rehypothecation Crisis The next Luna-like crash may originate from the rehypothecation space and could trigger a bear market. It seems that many people are overlooking the huge impact that a de-pinning event or a cut event can have in this area. Gold Reserves The ultimate over-the-top signal may be for governments to diversify a portion of their gold reserves into Bitcoin—dubbed “digital gold.” Some additional small signs of labor shortages in low-income countries Another significant sign is that there is a labor shortage in low-income countries, because these workers can earn $300 to $600 a month by mapping roads through hivemapper or other DePIN projects, which is more than what they earn The usual wages are higher. This happened on a small scale with Axie and StepN last cycle, and it may happen on a larger scale this time around. Las Vegas Dome In 2021, Times Square was dominated by a variety of shoddy meme coin ads. And in this cycle, cryptocurrency ads that play on the Las Vegas dome for weeks on end will become a similar phenomenon. Financing rounds A relatively reliable signal is to observe the flow of funds in venture capital. When funding rounds proliferate and may even exceed the amount of investment in traditional finance, this may be an indicator to consider exiting the market. "Financial markets tend to be unpredictable. Therefore, we must be prepared for different scenarios... The idea that you can accurately predict future developments contradicts the way I look at markets." - George Soros. Related reports Pennsylvania in the United States has proposed a "Bitcoin Strategic Reserve" bill: Billions of dollars are expected to be invested in hoarding BTC. Bhutan's Bitcoin holdings amount to one-third of its GDP. Can Bitcoin become the new favorite for global reserves? Standard Chartered: There is a "slim chance" that Trump will include Bitcoin in the U.S. strategic reserve, but he will overturn the SAB121 encryption accounting law after taking office. "View) The "top signal" of this bull market has expired, and the new main force has not yet arrived." This article was first published on Momentum District BlockTempo (Dong District Dongzhi - the most influential blockchain news media).

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