Cryptocurrency Market Update

While cryptocurrency markets are still affected by recession and panic, seasoned cryptocurrency researcher and investor Qiao Wang believes that the cycle isn’t over for crypto.

“80% sure”: Qiao Wang shares his thoughts on this bull run prospects

Veteran cryptocurrency analyst Qiao Wang of Alliance DAO, Messari co-founder, and host of the Good Game Podcast, indicates an 80% chance that the ongoing cryptocurrency bull run has not peaked yet. He shared this insight on Feb. 28, 2025, with his 164,000 followers on X.

> 80% sure the cycle is not over
> — qw (@QwQiao) February 28, 2025

Most of his followers agreed with his viewpoint. The current cryptocurrency cycle began after the post-FTX crash recession around mid-November 2022.

So far, Bitcoin (BTC), the largest cryptocurrency, reached a high of $109,114 on Jan. 20, 2025, but has since lost 22.51%. Historically, Bitcoin cycles peak in Q4 of post-halving years, with previous records set in December 2017 and November 2021. The last Bitcoin halving event occurred on April 20, 2024, reducing the block reward to 3.125 BTC per block.

Crypto sentiment hits lowest levels since Terra collapse

Pessimism currently governs the cryptocurrency sector based on various metrics. Following heightened geopolitical tensions, Bitcoin (BTC) dropped below $80,000 for the first time in three months.

The Alternative Fear and Greed Index plunged to 10/100, indicating an “Extreme Fear” zone not seen since the Terra crash in May-June 2022. The aggregated stablecoin supply, a key crypto market sentiment indicator, has also returned to levels seen in 2024 as all major issuers burn their tokens.

Interestingly, Bitcoin ETFs inflow is the only positive metric today. After seven consecutive days in red, it turned slightly positive, driven by activity from Fidelity and ARK products.