Crypto Analyst Warns: This Bitcoin Bull Cycle Looks Nothing Like 2017 or 2021

Bitcoin's price has been consolidating after reaching an all-time high of over $111,000 in May, currently trading at $104,851. The crypto market is experiencing cautious sentiment, with analysts examining whether the current bull cycle is shifting gears or pausing temporarily. CryptoQuant contributor Crypto Dan has analyzed current and past market cycles, noting distinct behaviors in Bitcoin's recent price action. Dan suggests that while similarities exist with previous cycles, the current cycle has developed unique characteristics, potentially signaling a different market structure. Previous cycles saw more predictable corrections and rallies, whereas the current cycle has been marked by alternating strong rallies and sudden declines. These patterns have dampened market sentiment, particularly when altcoins underperform Bitcoin. Dan posits that the repeated pullbacks may not be organic, but rather intentional suppression by large players to extend the cycle's duration and prevent overheating. If this interpretation holds, the bull cycle could end with a sharp spike driven by euphoric buying behavior. A separate analysis by CryptoQuant's Burak Kesmeci shows that retail investor activity has decreased since Bitcoin hit its high in late May, with institutional interest driving the market structure. The divergence between retail and institutional investors may shape how the next leg of Bitcoin's market cycle develops.