Crypto Bull Run 2024-2025: How Bitcoin Reached New Heights and What's Next

Bitcoin (BTC) is writing a new chapter in its history. With the digital asset already reaching an all-time high of $126.08K (ATH), surpassing goals that few predicted months ago, the current crypto bull run of 2024-2025 stands out as one of the most robust and well-founded in history. Unlike previous cycles driven mainly by retail speculation, this rally is fueled by institutional regulatory approvals, structural supply events, and growing government interest. Understanding what is happening now and how to prepare for the next phases is essential for any investor.

What Defines a Bull Cycle in Bitcoin?

A crypto bull run in Bitcoin is much more than a simple price increase. It is a period of sustained and exponential gains, typical of the digital currency’s history. Since its launch in 2009, Bitcoin has demonstrated remarkable cyclical patterns.

In 2013, the first major rally took BTC from ~$145 in May to ~$1,200 in December—an extraordinary gain of 730%. In 2017, the ICO craze propelled Bitcoin from ~$1,000 in January to nearly $20,000 in December, an impressive 1,900% gain. The 2020-2021 high consolidated Bitcoin as an institutional asset, rising from ~$8,000 in January 2020 to ~$64,000 in April 2021, a jump of 700%.

Each of these cycles left lasting marks on the market and the narratives surrounding Bitcoin. What characterizes them?

• Strong upward momentum and widespread positive sentiment
• Exceptional trading volumes
• Intense buzz on social media and media outlets
• Technical indicators such as RSI above 70, moving average crossovers of 50 and 200 days
• On-chain data revealing wallet accumulation and reduced supply on exchanges

2024-2025: A Different Crypto Bull Run

What makes the current crypto bull run of 2025 unique is its multifactorial and institutional origin.

The Bitcoin ETF Revolution

In January 2024, the US SEC approved the first spot Bitcoin ETFs. Since then, the impact has been overwhelming. By November 2024, ETFs had accumulated over $4.5 billion in inflows, and this flow continued to accelerate. Major asset managers like BlackRock now hold more than 467,000 BTC through their ETFs, while the total cumulative holdings of all spot Bitcoin ETFs surpassed 1 billion BTC in participation.

These numbers show an unprecedented phenomenon: Bitcoin is no longer confined to tech niches. Traditional investors, pension funds, and wealth managers can now access Bitcoin through familiar, regulated financial instruments.

The April 2024 Halving and Supply Scarcity

The fourth Bitcoin halving in April 2024 again reduced mining rewards, creating structural scarcity. Historically, halvings have triggered price explosions:

• After the 2012 halving: +5,200%
• After the 2016 halving: +315%
• After the 2020 halving: +230%

This predictability of scarcity combined with institutional capital influx has created a demand storm.

Macroeconomic and Political Support

Re-election of Donald Trump and pro-cryptocurrency speeches significantly increased regulatory optimism. Proposals like the BITCOIN Act of 2024, which suggests the US Treasury acquire up to 1 million BTC over five years, signaled a paradigm shift: governments are beginning to see Bitcoin as a strategic reserve asset.

Bhutan and El Salvador have already integrated Bitcoin into their national reserves, positioning themselves as leaders in digital financial innovation. If more nations follow this path, Bitcoin demand could reach new heights.

The Numbers of the Current Bull Run

• Price in January 2024: ~$40,000
• All-time high reached in 2025: $126.08K
• Total gain: +215% in just over a year
• Highest 24h in 2025: $89.57K
• Current market cap: $1.77 trillion
• Active addresses with holdings: 55.1 million

These figures reflect not only speculation but real and structural adoption.

Technical and On-Chain Signals: How to Identify a Crypto Bull Run

Attentive investors use multiple tools to confirm if we are truly in a sustainable rally:

Technical Indicators

• RSI (Relative Strength Index): During bull runs, RSI often stays above 70, indicating strong buying momentum, without necessarily implying imminent oversold conditions in structural upcycles.
• Moving Averages: Breakouts above 50- and 200-day moving averages confirm bullish trends. When price consistently stays above these averages, it signals an established trend.
• Volume: Bull runs are accompanied by extremely high volumes, indicating massive market participation.

On-Chain Data

On-chain data reveal investor behavior:

• Reduction of supply on exchanges: When large amounts of Bitcoin are withdrawn from exchanges and moved to personal or custody wallets, it indicates accumulation. In 2024, we saw a dramatic decrease in Bitcoin held on exchanges.
• Stablecoin inflows: When investors deposit digital dollars (USDT, USDC) on exchanges, it often precedes Bitcoin purchases.
• Wallet activity: Increases in active transactions and new wallets being created indicate growing interest.

Macroeconomic Factors

• Regulatory approvals: ETFs, futures, and legislative clarity attract institutional capital.
• Monetary policies: Persistent inflation or fiscal stimulus prospects increase Bitcoin’s appeal as a hedge.
• Supply events: Halvings and reductions in mintable issuance drive scarcity narratives.

Past Highs: Lessons for Today

2013: The First Awakening

Bitcoin rose from $145 to $1,200 in 2013. The Cyprus banking crisis sparked interest in decentralized assets. However, the collapse of Mt. Gox exchange in 2014 caused a 75% drop, reminding the market of infrastructure risks.

Lesson: Infrastructure matters. Today, we have professional custody and regulated exchanges.

2017: The ICO Fever

Bitcoin jumped from $1,000 to $20,000, driven by ICO hype. Daily volumes exploded from less than $200 million to over $15 billion. But strict regulation in China and market manipulation led to an 84% decline in 2018.

Lesson: Retail speculation fuels rapid highs but leaves the market vulnerable. Today, institutional participation offers greater sustainability.

2020-2021: The Institutional Era

MicroStrategy, Tesla, Square, and other publicly traded companies accumulated Bitcoin for their balance sheets. Bitcoin was repositioned as “digital gold” amid the pandemic and massive fiscal stimulus. Price soared from $8,000 to $64,000, a 700% gain.

Lesson: Narratives matter. When Bitcoin is adopted as a reserve asset by major corporations, the market shifts.

Preparing for the Next Phases of the Crypto Bull Run

1. Educate Yourself on Cycles and Fundamentals

Understand why Bitcoin matters: it is a decentralized digital currency with a fixed supply of 21 million. This programmed scarcity is its greatest asset. Study blockchain technology and Bitcoin’s role as a value network.

2. Develop a Clear Investment Strategy

• Define goals: short-term gains or long-term wealth building?
• Assess risk tolerance: what is your emotional and financial capacity to handle volatility?
• Diversify: don’t put everything into Bitcoin. Consider Ethereum, Solana, and other asset classes.

3. Choose a Reliable Platform

Look for exchanges with:

• Strong security protocols (2FA, biometric authentication)
• Cold storage options for funds
• Regular security audits
• Robust customer support
• Advanced analysis and trading tools

4. Protect Your Assets

For long-term holdings, use hardware wallets that keep Bitcoin offline and out of hackers’ reach. For active trading, keep funds on exchanges but always enable all available security features.

5. Constantly Monitor Market Signals

• Technical indicators: RSI, MACD, Bollinger Bands
• On-chain data: active addresses, exchange movements, hodling levels
• News and developments: regulatory approvals, protocol updates, macroeconomic moves
• Sentiment: what’s being said in communities and social networks?

6. Practice Risk Management

• Use stop-loss orders to limit losses
• Implement take-profit targets to capture gains at specific levels
• Never invest more than you can afford to lose
• Avoid excessive leverage trading

7. Keep Tax Records

Cryptocurrency transactions have tax implications in nearly all jurisdictions. Keep detailed records of all buys, sells, and swaps, with dates and values, to simplify tax reporting.

The Future: What to Expect in Upcoming Bull Runs

Bitcoin as a Government Reserve Asset

The proposal of the BITCOIN Act indicating the US could acquire up to 1 million BTC would represent colossal demand. Bhutan already holds over 13,000 BTC in its national reserves, signaling a shift in global sovereign wealth strategies.

Technical Innovations: OP_CAT and Layer-2

The potential revival of OP_CAT (code removed from Bitcoin for security reasons) could unlock revolutionary capabilities:

• Rollups and Layer-2 solutions enabling thousands of transactions per second
• Native DeFi applications on Bitcoin
• Positioning Bitcoin as a direct competitor to Ethereum for decentralized applications

This would make Bitcoin more than a store of value; it would expand its utility for daily transactions and complex contracts.

New Institutional Products

Bitcoin ETFs inspired other crypto ETFs, futures, and increasingly sophisticated derivatives. Mutual funds and regulated investment vehicles will continue to attract growing institutional capital.

Upcoming Halvings and Cycles

The next halving is expected around 2028, reducing mining rewards again. This event, combined with potential government support and technical innovations, could set the stage for a new crypto bull run.

Risk Scenarios: What to Watch For

Not everything is positive. Risks that could interrupt the bull run include:

• Extreme volatility and corrections: profit-taking can cause 15-30% drops even in established bull phases.
• Speculation and FOMO: retail investors may be lured into impulsive buys, creating bubbles that eventually burst.
• Adverse regulation: government bans or severe restrictions on mining could slow growth.
• Economic recession: macro crises may divert capital to safer assets.
• Environmental concerns: pressure against energy-intensive mining could impact long-term narratives.
• Altcoin competition: Ethereum, Solana, and others might capture capital that would otherwise go to Bitcoin.

Conclusion: Navigating the Current Crypto Bull Run

The current crypto bull run of 2024-2025 is fundamentally different from previous ones. It’s not just retail hype or speculative bubbles. It is the culmination of:

• Regulatory approvals granting legitimacy
• Mass institutional adoption
• Emerging government support
• Technical innovations expanding utility
• Structural scarcity through halvings

Bitcoin is already approaching $126K in its historical ATH, and market capitalization has reached $1.77 trillion. With 55 million active addresses and ongoing institutional interest, the momentum appears sustained.

But remember: while Bitcoin’s history is of recovery and growth through multiple cycles, this does not guarantee future gains. Prepare yourself by educating, developing a clear strategy, protecting your assets, and constantly monitoring market signals.

The next phase of the crypto bull run could bring extraordinary opportunities—or significant corrections. The difference between success and failure often lies in preparation and discipline.

Stay informed, vigilant, and ready to navigate the dynamics of this evolving asset class that continues to reshape the future of digital finance.