Greatest Bull Market In History Is Beginning

What a week it’s been, it seems crypto is awakening once again and the greatest bull market in history is beginning!

For a comprehensive overview of the market, check out this weekly market report from Coin Bureau.

It appears that life is returning to the crypto space after a prolonged and challenging period. We are likely to witness price increases heading towards $40K and more in anticipation of the ETF.

  • Derivatives, particularly BTC options, have been heating up as well. The total open interest for bitcoin options across exchanges reached a record high of $15.37B
  • Stablecoins have stopped their decline and have not reached new lows for over three months, signalling a potential reversal in market sentiment
  • The DeFi market has rebounded significantly, reaching a three-month high with a TVL of $42B
  • Major and large projects such as Solana, Injective, and Rollbit have seen gains of 76%, 75%, and 65% respectively. Meaning investor sentiment has turned bullish

My concern is the increasing number of ‘token’ and ‘meme’ coins and pump/dump projects that are being released daily by random people. The market is becoming over saturated with this rubbish which makes the crypto market looking a bit like a joke, and therefore makes it difficult to attract real investors.

I do hold some crypto and have been holding throughout the bear market, I would obviously love to see another bull market, but I just can’t see it being as big as the last one.

It’s more about BTC in the near-term. Institutional flows would be very significant if Bitcoin ETFs are approved.

A study by Galaxy Digital found that if Bitcoin ETFs are approved, they could attract $14 billion in inflows in the first year, ramping up to $39 billion in inflows by the third year. This would represent a major influx of capital into the Bitcoin market and could help to drive up the price of BTC.