While cryptocurrency markets are still captured by recession and panic, seasoned cryptocurrency researcher and investor Qiao Wang says it's not over for crypto in this cycle. Meanwhile, Bitcoin ETFs recorded their first day in green after the most terrible week in months.
"80% sure": Qiao Wang shares his thoughts on this bull run prospects
Veteran cryptocurrency analyst Qiao Wang of Alliance DAO, Messari co-founder and Good Game Podcast host, indicates an 80% possibility that the ongoing cryptocurrency bull run has not peaked yet. He shared such a statement yesterday, Feb. 28, 2025, with his 164,000 followers on X.
Largely, his followers agreed with this take. The current cryptocurrency cycle started with the bottom of post-FTX crash recession in mid-November, 2022.
So far, Bitcoin (BTC), the largest cryptocurrency, reached its price high at $109,114 Jan. 20, 2025. The Bitcoin (BTC) price lost 22.51% since.
Normally, Bitcoin (BTC) cycles hit peaks in Q4 of post-halving years. Previous records were set in December 2017 and November 2021.
The last Bitcoin (BTC) halving event occurred April 20, 2024, resulting in a block reward of 3.125 Bitcoin (BTC) per block.
Crypto sentiment hits lowest levels since Terra collapse
Meanwhile, pessimism is taking over the cryptocurrency segment based on numerous metrics. Yesterday, following accelerating geopolitical tensions, Bitcoin (BTC) plunged below $80,000 for the first time in three months.
Alternative Fear and Greed Index dropped to 10/100, which is the lowest "Extreme Fear" zone since the Terra crash in May-June 2022.
The aggregated stablecoin supply, one of the crucial metrics of crypto market sentiment, is also back to 2024 levels with all major issuers burning their tokens.
Bitcoin ETFs inflow metric is the only green spot today: After seven days in red it turned slightly positive thanks to activity of Fidelity and ARK products.
Dan Burgin
Vladislav Sopov