The crypto market is entering a slower phase of its current cycle, but analysts suggest that the next significant uptrend could emerge by fall 2025, according to new on-chain data.
Recent data from leading on-chain analytics firms CryptoQuant and Glassnode indicate a significant evolution in the cryptocurrency market.
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CryptoQuant highlights that Bitcoin’s long-term holding dynamics are shifting compared to past bull runs. In earlier phases, rapid surges led to sharp peaks, but the latest cycle shows a lengthening slope.
“The main reasons are the introduction of spot ETFs and the adoption of Bitcoin by institutions and even some nations,” says CryptoQuant analyst Crypto Dan. “Additionally, in this cycle, whenever capital starts flowing into altcoins, the market’s upward momentum tends to stall—a pattern that has repeated multiple times.”
Furthermore, a notable change in investor behavior has been observed on Binance, traditionally considered a retail-heavy exchange. CryptoQuant further notes that the average Bitcoin inflow per transaction has jumped from roughly 0.8 BTC in early 2024 to 13.5 BTC today, reflecting a structural shift toward larger players.
This suggests a significant shift from retail dominance to increased whale activity, indicating larger players are moving capital.
Meanwhile, the percentage of Bitcoin supply in profit has reached a critical 90% threshold, a level that historically precedes a corrective phase, whether short or long-term.
This aligns with Glassnode’s findings, which show a reset in spot market bias. Bitcoin’s Cumulative Volume Delta (CVD) across major exchanges has reverted to neutral, erasing the strong buyer dominance seen in April when Bitcoin neared $111,000. This indicates that the buying pressure in the spot market has cooled off.
On the Flipside
- Still, macro catalysts could reignite momentum. With a potential U.S. rate cut expected in September and possible approvals for altcoin ETFs in October, any corrections in the coming months may represent attractive entry points ahead of a renewed uptrend into late 2025.
Why This Matters
The reset in spot market bias underscores a cooling of buyer enthusiasm near the $111,000 mark. After months of strong demand, buying and selling pressure have now balanced out, signaling waning conviction among traders. This suggests the market is consolidating, with momentum pausing before the next decisive move.
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People Also Ask:
It means Bitcoin’s price is rising at a gentler pace compared to previous bull markets. This is largely due to institutional adoption, spot ETFs, and capital rotation into altcoins, which lengthen the cycle instead of producing sharp surges.
Institutional adoption, spot Bitcoin ETFs, and even sovereign-level participation are tempering volatility. Capital shifts into altcoins have also stalled Bitcoin’s momentum several times.
It indicates buying pressure has cooled. Earlier in 2025, buyers dominated, but now buying and selling have balanced, showing weaker conviction near $111,000.
Yes. Analysts point to a potential U.S. interest rate cut in September and possible approval of altcoin ETFs in October. These events could renew market optimism and trigger the next uptrend into late 2025.
While short-term corrections are possible, many analysts see them as healthy consolidations. For long-term investors, dips may represent buying opportunities ahead of a potential fall 2025 rally.
