Bull Run 2025: How the Crypto Cycle Is Redefining Its Rules

Bitcoin continues to maintain a solid position in the market, with the current price at $90.47K. We are in the middle of a cycle that many analysts consider crucial: 2025 could represent a milestone that breaks historical patterns. Unlike the next bull run that will follow past cycles, this year brings entirely new dynamics.

How the Crypto Market Evolves: From Predictable Cycles to the Institutional Era

For years, the world of cryptocurrencies has oscillated following a recurring pattern: a prolonged accumulation phase, followed by a year of explosive expansion, and then a sharp correction that initiates a bear market. This four-year rhythm was tied to Bitcoin halving, creating a predictability that many investors used as a calendar.

In 2021, the cycle followed this script exactly. In 2025, things are changing significantly. While some experts like Raoul Pal continue to predict the traditional 4-year cycle, others suggest that Bitcoin could shift to a 5-year cycle or even longer. If this theory proves correct, the current rally could extend well beyond conventional expectations, offering prolonged opportunities for investors.

2021 vs 2025: Two Different Eras of Crypto Speculation

The 2021 Era: Culture, Creativity, and Experimentation

The 2021 cycle was dominated by captivating narratives that captured the public’s imagination:

• NFTs and Digital Culture: Non-fungible tokens transformed art and pop culture into a massive speculative phenomenon, promising anyone to get rich simply by owning the right JPEG.

• Play-to-Earn and Metaverse: Platforms like Axie Infinity introduced a revolutionary concept: earning real money by playing. Virtual worlds like Decentraland and The Sandbox promised a new digital lifestyle where owning land and building communities.

• Layer 1 Explosion: High fees on Ethereum fueled fierce competition among alternative blockchains — Solana, Avalanche, Terra, and BSC each claimed the title of “Ethereum killer.”

• Memecoin as a Social Movement: DOGE, SHIBA, and FLOKI were not just tokens but cultural phenomena bringing entertainment and inclusion to retail traders.

• Initial Institutional Entry: MicroStrategy and Tesla began accumulating Bitcoin, signaling that traditional finance was paying attention.

2021 was a street party — noisy, colorful, and chaotic. When the correction arrived, it was brutal and prolonged.

The 2025 Era: Utility, Infrastructure, and Global Finance

The current landscape is radically different. Cultural speculation has given way to utility and financial integration:

• Tokenization of Real Assets (RWA): Real estate, bonds, and artworks are transformed into liquid, transparent digital assets. Projections suggest the RWA market could reach $16 trillion by 2030.

• AI Enhances Crypto Projects: From autonomous trading bots to data-driven protocols, AI is providing crypto projects with a competitive edge and operational efficiency.

• Crypto ETFs and Stablecoins as Infrastructure: Bitcoin and Ethereum ETFs now allow pension funds, insurers, and corporations to expose their portfolios to crypto with the same ease as traditional instruments. Stablecoins (USDT, USDC) have become the nervous system of global payments — effectively US dollars on the blockchain, faster and cheaper than the banking system.

• DePIN and Decentralized Infrastructure: Decentralized 5G networks, tokenized renewable energy markets, and on-chain real-world data reward those providing resources and data.

• Memecoin as a Liquidity Vehicle: Platforms like Pump.fun and LetsBONK have enabled anyone to create and launch a memecoin with just a few dollars. They are no longer just entertainment — these tokens serve as liquidity vehicles and even tools tied to political and community narratives.

2025 resembles a formal gala dinner — organized, professional, with Wall Street giants sitting around the table.

Regulatory Revolution: From the Wild West to Legitimacy

In 2021, the regulatory landscape was an uncertain jungle. Gary Gensler’s presidency at the SEC classified almost everything as a security, paralyzing innovators and investors with endless lawsuits.

2025 has brought clarity and confidence:

• Change of Administration: The election of a pro-crypto president and Gensler’s resignation have transformed regulatory sentiment. Favorable crypto policies are being implemented, with high-profile figures actively participating in the ecosystem.

• GENIUS Law (July 18, 2025): The first federal law clearly defining payment stablecoins. These must be backed 1:1 by USD or secure assets, with public reserves and federal oversight. In the month following signing, stablecoin capitalization rose from $260B to $278B (+7%).

• Bitcoin Strategic Reserve (March 6, 2025): The state established a national Bitcoin reserve, transforming confiscated BTC from a bad asset to a strategic reserve. States like New Hampshire and Texas are following suit, creating their own Bitcoin reserves.

These moves represent a fundamental transition: cryptocurrencies are moving from a speculative playground to the core of traditional finance. Bitcoin and stablecoins are gaining status as stores of value (similar to gold) and legitimate payment instruments.

Does the Four-Year Cycle Still Hold?

The crucial question remains: will the 4-year cycle that has dominated Bitcoin’s history continue, or does 2025 mark the beginning of a new paradigm?

If the traditional cycle persists, investors have a limited window to realize significant gains before a major correction. Prudence would suggest securing profits, reducing exposure, and rebalancing portfolios.

If the cycle extends to 5 years or more, the next bull run could last much longer, creating prolonged opportunities for those who stay invested. However, this scenario carries the opposite risk: overconfidence might lead investors to hold oversized positions and miss the optimal profit-taking moment.

The universal lesson is simple: you cannot control the market, but you can control your risk exposure. If you feel constant stress monitoring your portfolio, you are likely overexposed. Take profits gradually, ease pressure, and maintain diversification.

The Cyclical Nature of Capital

All assets move in cycles — whether they last 4, 5, or 10 years. Cryptocurrencies are no exception. Over time, cryptos will increasingly synchronize with the rhythm of global financial markets: nothing rises forever, and nothing falls forever. Cycles are rings that repeat.

Investors who learn to navigate these cycles, seize opportunities at the right phases, and protect capital during corrections will accumulate lasting wealth for themselves and their communities. 2025 could prove to be the year when the traditional cycle is finally rewritten.