Odaily Planet Daily News: Bitfinex Alpha's latest report states that Bitcoin has surged over 573% from the bear market low of $15,487 in November 2022, with its price rising 130% year-to-date. The current bull market reflects strong institutional demand, driven primarily by ETFs and spot accumulation. Historical data indicates that we are in the mid-cycle, with the market likely peaking around the third to fourth quarter of 2025, approximately 450 days after the halving in April 2024. Indicators such as MVRV, NUPL, and bull-bear market cycle indicators suggest that we are still in the bull market phase, but far from reaching a peak. The Pi cycle top and 4-year moving average model predict a potential cycle peak between $145,000 and $189,000. From a historical perspective, diminishing returns are moderating the explosive growth of BTC seen in previous cycles.

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