According to Cointelegraph: Unfamiliar market dynamics have led industry analysts to label the current crypto bull market as the "weirdest" ever, with a surprising influx of liquidity into memecoins disrupting the historically predictable Bitcoin halving cycle.

Traditionally, during bull runs, liquidity flows into Bitcoin before cascading into Ethereum and other high-capacity coins, eventually reaching smaller tokens on the chain. This time, however, market liquidity appears to have bypassed these established steps, flowing directly from Bitcoin into memecoins.

This shift has seen the total capitalization of memecoins surge to $70 billion - primarily driven by currencies such as 'dogwifhat' (WIF), Book of Meme (BOME), Pepe (PEPE), and Bonk (BONK). Furthermore, the recently launched Base-native token DEGEN, distributed on the decentralized social network Farcaster, has astonishingly climbed by 2,800% over the past month.

Zach Rynes, a Chainlink community liaison, expressed that the absence of "real fundamentals" is contributing to the current market dynamics. Concurrently, Anthony Sassano, an Ethereum educator, reinforced Rynes' sentiments, suggesting that retail investors are still not engaging in a significant way.

Another anomaly in the present market cycle is Bitcoin reaching an all-time high of $73,734 on March 14, weeks before the anticipated halving on April 20. Historically, Bitcoin's all-time high typically occurs the year after the halving. This, combined with the unforeseen memecoin surge, has introduced unprecedented factors into Bitcoin's conventional halving cycle.