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Why the bull market in crypto is still thriving in 2025

Bull Market Still Roaring | Lack of Euphoria Sparks Debate

By

Isabella Schmidt

Nov 21, 2025, 04:08 PM

3 minutes reading time

A graph showing upward trends in cryptocurrency value with coins in the background
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A surge of opinions in online forums suggests that the current bull market for cryptocurrency might not be over. Analysts note the absence of typical signs of market euphoria, despite declaring that the timeline for Bitcoin's peak may not yet be reached.

Context of the Current Cryptomarket

Historically, the peak periods in the cryptocurrency market have been marked by extreme retail mania. Industry experts argue that the current environment lacks these frenzy-like qualities. Previous highs in 2013, 2017, and 2021 saw cycles filled with excitement and speculation. Presently, many financial commentators express skepticism over a potential market top.

โ€œYou can't have a cycle top without trying to have a thunderstorm without clouds,โ€ stated one analyst, summarizing the lack of retail interest.

Key Themes from Forums

A variety of sentiment is expressed among people actively discussing the state of the market. Here are some highlights:

  • Economic Concerns: Contributors note that the lack of enthusiasm stems from broader economic troubles, with inflation impacting retail investment capacity. โ€œRetail is hurting at the moment Inflation is eating into their capacity to invest,โ€ one commenter pointed out.

  • Cycle Timing: Some analysts emphasize that the expected peak for Bitcoin lies between late 2025 and early 2026, observing that Bitcoin historically peaks 12โ€“20 months post-halving.

  • Liquidity Factors: Thereโ€™s discussion around ongoing global liquidity expansion, with approximately $1 trillion being injected every three months. People suggest this might support a bullish trend in late 2025 to early 2026. โ€œCrypto typically sees the impact of liquidity with a 6โ€“12 month delay,โ€ explained an enthusiast.

Market Sentiment and Future Perspectives

The general response among commenters showcases a mix of caution and hopeful optimism. While some dismiss the anticipation of upcoming peaks as unrealistic, others view the current market shakeout as a healthy mid-cycle phase. โ€œWeโ€™re in a bear trap. Be patient,โ€ notes a proactive investor.

Interestingly, some believe this cycle lacks the usual volatility and associated hype. One user reminisced, โ€œIโ€™ve been around sinceโ€ฆ it wasnโ€™t euphoric for bitcoin.โ€ Thereโ€™s a consensus that exuberant retail interest is lower than seen in previous cycles, which has resulted in a more subdued atmosphere.

Key Insights

  • ๐Ÿ“ˆ Historical peaks occurred between 12-20 months post-halving; expect highs late 2025.

  • ๐Ÿ’ฐ โ€œGlobal liquidity is still expandingโ€; $1 trillion injected every quarter.

  • ๐ŸŒ Economic conditions likely reduce retail enthusiasm, limiting speculative frenzy.

The cryptocurrency community remains divided, yet the belief is strong that many factors are still at play to support growth and stability as the market moves forward. Will the market defy expectations? Only time will reveal the answer.

The Path Forward for Crypto in 2025

Looking ahead, several scenarios could shape the cryptocurrency market in late 2025 and early 2026. Analysts forecast that Bitcoin may reach its peak within the next 6 to 12 months, particularly if liquidity conditions remain favorable and investor sentiment starts to shift. Experts estimate there's a strong chance, around 70%, that increasing institutional interest and the potential for regulatory clarity could fuel a market rally. Additionally, if inflation stabilizes, retail investment could surge, providing a solid boost to crypto prices. With the current environment emphasizing cautious optimism, the market could defy expectations if these factors align favorably.

A Unique Historical Reflection

In an unexpected twist, the current crypto landscape might resonate with the 2008 financial crisisโ€”a time when the stock market faced deep uncertainty yet gradually rebounded. Just as investors found solace in undervalued assets and long-term growth potential after the crisis, the cryptocurrency community could see a resurgence in interest as economic conditions shift. The parallels lie in the resilience of investors who remain hopeful in the face of adversity. Much like the housing market rebounded with fresh investment strategies and regulations, the crypto market too may find its footing, influenced by lessons learned from both past highs and significant downturns.