ChainCatcher news, VanEck digital asset research director Matthew Sigel said in a recent investor report: "If the persistence of the current cycle is consistent with previous trends, this may indicate that the market top may occur between the second and fourth quarters of 2025. Historically, the cryptocurrency market has experienced a clear four-year cycle, and important price peaks usually appear after the cap. The 2013-2017 and 2017-2021 cycles have followed this trend, setting new historical highs after each halving."

Sigel's analysis believes that the current market cooling stage is a precursor to another surge.