It is expected that this round of the crypto bull market will peak around Q3 or Q4 of 2025.

Since the bear market low of $15,487 in November 2022, Bitcoin has soared over 573%, with its price rising 130% so far this year. The current bull market reflects strong institutional demand, dominated by ETF and spot accumulation.

Historical data suggests 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.

Due to institutional capital inflows, any corrections in 2025 will remain moderate. Historically, the year following a halving has seen the strongest rebounds, with the lowest price estimate by mid-2025 being $145,000, and under favorable conditions, this price could rise to $200,000.