Combining the trends in the cryptocurrency market, we can infer the direction of the upcoming bull market from the performance of the three giants in crypto stocks:

1. **COIN** (Coinbase): Primarily relies on transaction fees for revenue. When the altcoin market becomes increasingly frenzied, trading volume increases significantly, and COIN's revenue rises accordingly. Recent continuous increases often indicate the arrival of an altcoin bull market.

2. **MSTR** (MicroStrategy): Increases revenue by holding Bitcoin and using leverage. Its stock price increase is directly related to the rise in BTC, with rapid increases typically indicating that Bitcoin is entering a new launch phase.

3. **MARA** (Marathon Digital Holdings): Obtains BTC through low-cost mining, with revenue dependent on mining yields. A slow and steady increase in Bitcoin brings more revenue, leading to an increase in stock price, reflecting the activity level of the Bitcoin network. When its stock price experiences a continuous decline, it may indicate that the Bitcoin bull market is about to end.