Crypto Analyst Compares Current Bitcoin Cycle to 2017 and 2021
Bitcoin's price is consolidating around $104,851, down 0.3% in the last 24 hours and 6.3% below its all-time high of over $111,000 in May. Analysts are evaluating if the current bull cycle is pausing or shifting.
Key Observations on Bitcoin Market Cycles
- CryptoQuant contributor Crypto Dan notes unique characteristics in the current cycle compared to 2017 and 2021.
- The 2017 cycle had predictable corrections; the 2021 cycle saw longer initial corrections followed by quick rallies.
- The ongoing 2024–2025 cycle features alternating strong rallies and sudden declines.
- Possible manipulation from large players could be extending the cycle duration.
- A sharp spike in buying could signal the end of the bull cycle rather than a gradual fade.
Retail vs. Institutional Activity
- Retail transfer volumes decreased from $423 million to $408 million since May's peak.
- Retail demand shifted from +5 points to -0.11 points, indicating reduced activity among smaller investors.
- Institutional interest is currently driving market momentum, highlighting the importance of retail participation for sustaining the bull cycle.
