When Will the Crypto Market Bull Run Begin in 2025?

2025 brings anticipation for crypto’s prospective bull run return.

16 Jun 2025 | 19 min read

Table of Contents

Introduction

In the tumultuous landscape of cryptos, the anticipation of a bull run holds immense sway. Enthusiasts, investors, and analysts all eagerly await signs of when is the next bull run. The market’s resurgence, yearning for the next wave of bullish momentum. As we enter mid 2025, the question looms larger than ever: Is the crypto bull run poised to continue for the next six months and beyond? This query isn’t just about fleeting excitement; it’s a pivotal exploration into the future of crypto, igniting discussions around crypto bull run predictions and the broader crypto market outlook for the year. Join us on this journey as we delve deep into the possibilities, forecasts, and factors shaping the imminent fate of the crypto market in 2025.

Will 2025 See the Start of the Next Crypto Market Bull Run?

The outlook for the crypto market in 2025 is increasingly optimistic as we are in June 2025, with a strong foundation being laid for what many believe could be the next major bull run. Bitcoin (BTC) has already made headlines this year by surging past its previous all-time high, touching over $110,295 in June 2025 before stabilizing around $104,500-$106,800. This impressive climb has reignited investor enthusiasm and sparked fresh predictions from industry experts. Geoff Kendrick of Standard Chartered forecasts BTC could climb to $120,000 by mid-year, with the potential to hit $200,000 by year-end. Key drivers include rising institutional interest, expanding ETF approvals, and the return of a crypto-supportive administration, factors that continue to reinforce confidence across the market.

Meanwhile, altcoins are gaining serious momentum of their own. With total market capitalization surpassing $3.3 trillion, signs point to a broader market rally. Ethereum (ETH), in particular, stands out as one of the most promising assets, buoyed by its upcoming ETF listings and growing institutional backing. Some analysts, including BitBoy, project ETH could reach as high as $15,000 by the end of 2025, with Bitcoin potentially hitting the $250,000 mark. The growth of AI-powered blockchain projects and the long-anticipated arrival of “AltSeason” add to the excitement, suggesting that 2025 could be a transformative year not just for BTC and ETH, but for the entire crypto ecosystem.

Bitcoin Price Surges Above $106K in Mid 2025, Fueled by Unprecedented ETF Demand

Bitcoin started 2025 with a historic milestone, surpassing $100,000 as U.S. spot Bitcoin exchange-traded funds (ETFs) drove unprecedented demand. In December 2024, Bitcoin ETFs accumulated 51,500 BTC, almost three times the 13,850 BTC mined that month. This 272% demand-supply gap significantly boosted Bitcoin’s value, pushing it to an all-time high of $108,135 on December 17. Analysts attribute this surge to a growing appetite for Bitcoin as an institutional-grade asset, especially after strong momentum from Donald Trump’s election win in November 2024. Retail investors also played a pivotal role, with nearly 80% of ETF demand reportedly originating from them.

The trend carried into early January 2025, with Bitcoin ETFs amassing over $1.9 billion in net inflows during the first week alone. BlackRock’s iShares Bitcoin ETF led the pack, securing $370.2 million in a single day. Analysts predict even greater highs for Bitcoin this year, with price targets ranging from $180K to $200K, backed by expanding institutional adoption and ETF market maturity. Despite outflows in late December, the cumulative net inflows since the ETF launches in early 2024 have reached $36.9 billion, further reinforcing Bitcoin’s position as a premier digital asset for both retail and institutional investors.

What To Expect from Bitcoin and Crypto Market Bull Run in 2025?

Bitcoin Blasts Past $106K: Trade Deal Hopes & Vietnam Legalization Fuel Bull Run

Bitcoin surged 3% on Monday, maintaining levels above $100,000 mark, aligning with the broader crypto market. The rebound coincided with renewed optimism that the United States and China have reached a final agreement on their long-awaited trade deal. While Middle East tensions like Israel-Iran conflict on June 12 and Fed policy triggered volatility, Bitcoin’s bullish narratives got strengthened by Vietnam’s decision to legalize crypto. Effective from 2026, such move could spur mass crypto adoption across the Southeast Asian region, a huge untapped market.

Source: Cas Abbé on X

As seen on the 1-D chart, Bitcoin is mirroring events occurred in Q4 2024, where BTC pumped 50% after that. Now the MCap is bigger, experts like Cas Abbe predict Bitcoin price to hit $130K-$135K by Q3 2025. For a more detailed analysis, read Bitcoin Price Prediction

President Trump Reverses IRS Rule Targeting DeFi Exchanges

On April 2025, U.S. President Donald Trump signed a bill into law that repeals a recent IRS rule expanding the definition of a “broker” to include decentralized crypto exchanges. The move comes in response to a rule introduced during the final weeks of the Biden administration in December 2024, which clarified that new crypto tax reporting requirements would also apply to decentralized finance (DeFi) platforms. The White House confirmed the repeal in an official statement.

Market participants expect Trump’s administration to focus on fostering innovation in blockchain technologies, which has created a “risk-on” environment in financial markets. This political backdrop has coincided with increased institutional buying and retail investor enthusiasm, pushing Bitcoin and major altcoins into a full-fledged bull run. Many analysts believe Trump’s re-election have paved the way for policies that encourage the development of crypto-friendly infrastructure, such as the establishment of clear regulatory frameworks and reduced taxation on digital assets.

Bitcoin ETF Developments Accelerate Momentum

The long-anticipated approval of a spot Bitcoin ETF, spearheaded by asset management giant BlackRock, has become a driving force for the current rally. BlackRock’s iShares Bitcoin Trust holds over 662,500 BTC, highlighting a pivotal move in favor of institutional Bitcoin adoption. BlackRock’s ETF, coupled with Trump Media’s $2.5B Bitcoin investment and Fidelity’s $25M purchase boosting market confidence and liquidity.

Analysts predict that a Bitcoin ETF could introduce trillions of dollars in capital from traditional financial markets, further elevating Bitcoin’s status as “digital gold.” This sentiment has translated into Bitcoin’s price crossing the $50,000 mark, a critical psychological resistance, while simultaneously boosting altcoin markets.

Technical Breakouts in Major Cryptos

The ongoing bull run is also being fueled by technical milestones achieved by leading cryptos. Bitcoin price has surged past $90,000 for the first time and even touched near $100,000, signifying strong market conviction and the return of bullish sentiment. Ethereum, the second-largest crypto by market capitalization, has seen a similar breakout, climbing above $3,700 and drawing attention to its expanding ecosystem of decentralized applications (dApps).

Cardano has emerged as a standout performer, rallying over 300% in the past four weeks. This surge has been fueled by both technical and fundamental factors, including the network’s robust staking model and its growing adoption in the DeFi sector. Cardano’s ability to break past the $1 resistance level—an area of intense selling pressure since 2022 has unlocked new bullish potential, with analysts eyeing price targets of $1.5 to $1.7 before the year ends.

DeFi Resurgence and TVL Growth

Decentralized finance (DeFi) has made a strong comeback, contributing significantly to the broader market’s recovery. Total Value Locked (TVL) in DeFi protocols across major blockchains has witnessed substantial growth, with Cardano leading the way. In November 2024 alone, Cardano’s TVL increased by 19%, reflecting renewed interest in its DeFi ecosystem. The surge has been driven by the platform’s improved scalability, enhanced smart contract capabilities, and the launch of innovative decentralized applications.

Ethereum and Solana have also seen a significant boost in DeFi activity, with increasing adoption of decentralized exchanges (DEXs) and liquidity pools. Staking rewards across multiple platforms have become a major attraction for investors seeking passive income opportunities, further fueling TVL growth. The renewed focus on DeFi indicates a maturing crypto ecosystem that is increasingly appealing to both retail and institutional participants.

Market Dynamics and Global Trends

The broader macroeconomic landscape, particularly the trajectory of global liquidity conditions, hints at favorable market environments. With the Federal Reserve’s potential rate cuts in 2025, and spot Bitcoin ETFs and Ethereum ETFs approved earlier this year and the potential release of spot ETFs for altcoins like Solana on the way, the crypto market bull run stands to benefit from increased investor participation and mainstream adoption. Technological advancements in blockchain scalability and user interface (UI/UX) improvements are bridging the gap between Web2 and Web3, paving the way for widespread adoption.

Anticipated Developments and Transformations

A series of emerging trends are set to influence the crypto landscape. These include the emergence of breakthrough decentralized applications (dApps), the convergence of crypto with AI and the metaverse, the maturation of crypto infrastructure, and regulatory considerations. These elements collectively contribute to the anticipation of a significant bull run, attracting more users and capital into the crypto sphere.

Crypto Market Bull Run Overview: Will the Crypto Bull Run Continue in 2025?

Crypto Market Cap Analysis:

As of June 16, 2025, the total crypto market capitalization is approximately $3.30 trillion, marking a 1.58% daily gain. The Relative Strength Index (RSI) stands at 52.80, indicating neutral momentum with a slight tilt toward bullish recovery. RSI crossing back above 50 suggests the market is attempting to regain strength after recent profit-taking.

The recent price action reveals a consolidation phase between the $3.2T support and $3.4T resistance zones. Multiple candle rejections below $3.2T hint at strong buyer defense in that region.

If market sentiment improves and total cap breaks above $3.35T, the next key resistance lies at $3.52T, a level tested in late May. On the downside, $3.22T remains the first level of support, followed by $3.0T as a psychological floor.

Outlook:

Neutral-to-bullish bias as long as market cap holds above $3.2T
Breakout above $3.35T could trigger fresh upside toward $3.5T+

Crypto Market Bull Run Outlook:

The total crypto market cap is holding above $3.3 trillion, showing signs of consolidation near major support zones. The 20-day and 50-day EMAs at $3.28T and $3.19T respectively are acting as dynamic resistance levels, while the 100-day and 200-day EMAs at $3.09T and $2.97T provide solid support.

A confirmed breakout above the $3.35T zone—currently overlapping with the 20/50 EMA cluster—could trigger a renewed bullish trend, especially if accompanied by volume. The RSI at 52.75 shows neutral momentum, with room for upside.

If bulls reclaim and hold above the $3.4T level, the next leg of the bull run could target:

Short-term target: $3.5T
Macro target (Q3 potential): $3.7T–$3.85T

This setup aligns with historical cycle continuation patterns following EMA compressions and RSI recoveries from mid-50s.

DeFi protocols across major networks have seen a resurgence, with Total Value Locked (TVL) climbing to record levels. This growth signals the increasing adoption of decentralized financial solutions, particularly on networks like Ethereum, Cardano, and Solana. Concurrently, institutional inflows into cryptos have surged, with hedge funds and asset managers deploying billions into crypto-focused investment vehicles.

This synchronized rally across Bitcoin and major altcoins reflects a maturing market where multiple sectors, from DeFi to NFTs, contribute to the ecosystem’s growth, driving total market capitalization to historic highs.

Altcoin Season: Not Yet, But Momentum Is Building

The latest Altcoin Season Index from CoinMarketCap stands at 28/100, signaling we are still firmly in Bitcoin Season, but with potential shifts on the horizon. While it’s not yet “Altcoin Season,” recent trends suggest growing optimism in the altcoin space.

Source: Coinmarketcap

Bitcoin Dominance Shows Signs of Rotation

Bitcoin dominance, which briefly surged past 62% earlier this quarter, has since retreated to 58.6%. Though still dominant, this cooling off hints at capital rotation, a pattern often seen before an altcoin breakout phase.

What Signals a True Altcoin Season?

Historically, Altcoin Season begins when 75% of the top 50 altcoins outperform Bitcoin over 90 days. While we’re not there yet, select altcoins are already gaining:

Solana (SOL): +70% rally, powered by strong DeFi and NFT activity
Cardano (ADA): Up nearly 300% this quarter, driven by TVL growth in DeFi
Ethereum (ETH): Regaining traction through staking yields and Layer-2 innovation
XRP: Surging on favorable regulatory narratives and cross-border traction

Macro & Technical Setups Favoring Altcoins

Bitcoin consolidation near key resistance levels creates breathing room for altcoins
Retail interest is reviving around mid-cap projects with strong ecosystems
Institutional diversification continues as funds eye higher alpha beyond BTC

If Bitcoin dominance dips below 50%, it could mark the true kickoff to a full-scale altcoin season.

Altcoin Season Outlook: Summer 2025?

We’re not officially in Altcoin Season yet, but if current momentum continues, a shift could occur as early as Q3 2025. Keep an eye on Bitcoin dominance and the Altcoin Season Index, crossing the 50 and 75 thresholds, respectively, could signal the real beginning of the next altcoin wave.

Top Reasons Why Bull Run 2025 Could Be the Biggest Yet!

Here are the top reasons suggesting that the upcoming crypto bull run in 2025 might supersede previous market surges:

Maturation of Crypto Infrastructure: The crypto landscape has witnessed substantial advancements in infrastructure, fostering a more robust ecosystem. This maturity enables decentralized applications (dApps) to attract users who are genuinely interested in utility rather than speculative purposes. This evolution could unlock the full potential of dApps, stimulating substantial growth in the crypto space.
Emergence of Practical Use Cases: As the crypto sector matures, practical and sustainable use cases are surfacing. Beyond decentralized trading and lending, technologies like NFTs, metaverse, gaming, and zero-knowledge proofs (ZKs) are gaining traction. These use cases, driven by actual utility, have the potential to drive increased adoption and market growth.
Widening Adoption and Innovation: The impending bull run could witness an influx of users as adoption broadens. The convergence of crypto with AI and the metaverse is generating innovative solutions that captivate users. This convergence is expected to fuel rapid growth as visionary projects emerge atop this advanced infrastructure.
Regulatory Clarity and Market Dynamics: Despite regulatory uncertainties in some regions, the crypto market is poised for substantial growth. Clearer regulations, where present, are conducive to innovation, enabling projects to flourish without stifling constraints. Moreover, global liquidity conditions and mainstream adoption, particularly with the advent of spot ETFs for altcoins like Ethereum and Solana on the way, paint a positive market outlook for 2025.
Evolution of Decentralized Finance (DeFi): DeFi remains a vibrant sector ripe for innovation. The emergence of derivatives DEXs, tokenized assets, and staking mechanisms is revitalizing DeFi, offering attractive yields compared to traditional financial instruments like US Treasuries. These innovations could significantly contribute to the anticipated bull run.
Technological Advancements and Market Trends: Blockchain scalability and UI/UX development breakthroughs are erasing barriers between Web2 and Web3. As user-friendly decentralized applications become more accessible, a grand migration from Web2 to Web3 is underway, attracting a vast user base. Additionally, the convergence of crypto, AI, and the metaverse holds tremendous market growth and innovation potential.

The fusion of these factors, including milestone events, infrastructure maturity, practical use cases, increased adoption, regulatory clarity, DeFi evolution, technological progress, and market trends, sets the stage for what could potentially be the most significant crypto bull run 2025. These elements, signal a transformative period for the crypto market, inviting increased participation and capital inflow, shaping a potentially monumental phase of growth and development.

Top 10 Narratives for the Next Crypto Bull Run 2025

As the market eyes a potential breakout in Q3 2025, several macro and sector-specific narratives are building strong momentum. Here’s your updated guide to what could drive the next crypto rally:

1. AI-Powered Crypto Agents & Protocols

The fusion of AI and blockchain is no longer hypothetical. Projects like Bittensor (TAO) and Autonolas are building decentralized AI agents that collaborate, monetize knowledge, and automate on-chain decision-making.
Narrative: Crypto-native AI is fueling autonomous finance and decentralized infrastructure.

Read: Top AI tokens to watch in June 2025

2. DeFi Renaissance

With regulatory clarity improving—especially in the U.S.—and SEC Chair Atkins signaling a DeFi “innovation exemption,” blue-chip protocols like Aave, Uniswap, and Compound are gaining fresh momentum. The rise of restaking, real-world assets, and modular DeFi primitives adds new use cases.
Narrative: DeFi 2.0 is evolving into a compliant, high-yield alternative to TradFi.

3. Memecoins & Culture Coins

Tokens like SHIB, LILPEPE, and WIF are attracting millions in volume, driven by TikTok trends, retail memes, and community-generated value. These tokens act as onboarding tools during bull runs.
Narrative: Memecoins are Gen Z’s financial expression and still perform in hype cycles.

Read: Top Meme coins in June 2025.

4. Real-World Assets (RWAs)

Tokenized T-bills, real estate, and equities are being actively deployed in protocols like Ondo Finance, Franklin Templeton, and Benji.
Narrative: RWAs bridge crypto with TradFi, bringing institutional capital on-chain.

5. Solana Ecosystem & Spot ETFs

With spot Solana ETFs inching closer to approval (Galaxy, Franklin Templeton, VanEck have filed), and Solana DePIN, gaming, and memecoins gaining adoption, SOL is set to be a centerpiece of the next cycle.
Narrative: Solana is crypto’s performance chain and Wall Street wants in.

6. DePIN (Decentralized Physical Infrastructure)

Helium, Render, and projects on Solana are pioneering decentralized compute, wireless, and storage systems.
Narrative: DePIN will power the real-world backend of decentralized apps.

Read: Top DePIN tokens

7. Liquid Restaking & Yield Strategies

Protocols like EigenLayer and EtherFi have opened a new yield meta by allowing users to restake ETH while earning extra returns—reshaping capital efficiency.
Narrative: Liquid restaking will be to 2025 what staking was to 2021.

8. Layer 2 Ecosystem & Modular Chains

Optimism, Base, and Polygon are scaling Ethereum with lower fees and fast finality. The modular stack (Celestia, Avail) is giving devs more flexibility.
Narrative: L2s and modular chains are the new base layer of consumer apps.

9. Bitcoin as Corporate Treasury

From MicroStrategy to SoftBank and even Trump Media, companies are now adopting Bitcoin as a treasury reserve asset, further legitimizing BTC as digital gold.
Narrative: Bitcoin is now a boardroom-approved hedge.

10. Stablecoin Infrastructure & Payments

USDC, PYUSD, and emerging stablecoins are seeing explosive demand. Shopify, Stripe, and even Walmart are testing stablecoin rails.

Narrative: Stablecoins are the real killer app and they’re going mainstream.

TL;DR: What Will Drive the Next Bull Run?

Narrative Theme	Core Catalyst
AI + DeFi + Restaking	Infrastructure + innovation cycle
Memecoins + Solana + Culture	Retail & viral adoption
Bitcoin + Stablecoins	Institutional inflow + payments
RWAs + DePIN	TradFi integration + real-world use
L2s + Modular Chains	UX & scalability breakthroughs

Does Crypto Have a Future in India?

The future of crypto in India seems poised for development, with factors such as rising acceptance, regulatory shifts, technological innovations, evolving investor sentiment, and anticipation of market movements playing pivotal roles. As the crypto landscape continues to evolve, India’s stance and participation in this global financial transformation are eagerly awaited, with prospects of growth and integration into the broader financial ecosystem. Let’s look at some of the reasons why:

Rising Acceptance and Adoption: Over recent years, crypto adoption has seen a noticeable surge among Indian investors and enthusiasts. Despite initial skepticism, more people are embracing cryptos as viable investment assets and exploring their utility in various sectors.
Regulatory Shifts and Clarity: India has seen shifts in its regulatory stance towards cryptos. While the landscape has been uncertain, recent developments hint at forthcoming regulations providing much-needed clarity. The government’s willingness to explore and regulate rather than ban signifies a potential path forward for crypto in India.
Technological Innovations Driving Momentum: Technological advancements, particularly in blockchain and decentralized finance (DeFi), are propelling the momentum for crypto adoption in India. These innovations offer solutions beyond financial investments, presenting opportunities for sectors like supply chain management, governance, and more.
Investor Sentiment and Market Outlook: Investor sentiment toward crypto in India appears to be evolving positively. As global markets anticipate potential bull runs and optimistic market outlooks for 2025, this sentiment might translate into increased interest and investment from Indian market participants.
Market Predictions and Bull Run Anticipation: Anticipation of the next phase of the crypto bull run, expected in 2025, has captured attention worldwide, including in India. Analysts and experts foresee this period as potentially significant for the crypto market, and Indian investors are likely to be part of this global movement.

As we look forward, the crypto market in India seems poised for a transformative year ahead. The evolving landscape, technological advancements, and increasing investor interest paint a promising picture for the future of crypto in the country.

The anticipation of a potential crypto bull run in 2025 adds to the optimism. As suggested in the CoinDCX 2023 Report, insights from various industry experts hint at favorable market conditions underpinned by growing investor confidence and technological advancements. While predictions in the crypto space are always subject to market dynamics, the prevailing optimism, supported by data-driven insights from the CoinDCX 2023 Report, suggests a potential bullish trend in 2025.

How Big is the Crypto Market in India?

The crypto market has surged in India despite regulatory and tax complexities, establishing it as one of the world’s foremost hubs for crypto transactions. According to ‘ ‘The 2023 Geography of Crypto Report’ by Chainalysis, India ranks second globally in the crypto market, boasting a transaction volume exceeding $260 billion, trailing only behind the United States.

This remarkable growth stems from India’s grassroots adaptation to cryptos despite facing regulatory challenges and a higher tax rate than other nations. The Indian tax administration categorizes crypto and NFT as ‘Virtual Digital Assets (VDA),’ subjecting income from VDA transfers to a tax rate of 30% plus surcharge and cess since April 1, 2022, alongside the introduction of a 1% TDS (Tax Deducted at Source) from July 1, 2022.

Amidst these developments, G20 nations, led by India’s Presidency, have endorsed a regulatory roadmap favoring comprehensive oversight over a blanket ban, advocating for AML/CFT standards to address financial risks associated with crypto-assets. India’s crypto market continues to evolve amidst regulatory adaptations, setting the stage for a nuanced balance between oversight and innovation, crucial for shaping its crypto industry’s future.

Conclusion

As we enter the third quarter of 2025, the trajectory of the crypto market appears poised for significant transformations. The anticipation surrounding the next crypto bull run, especially with Ethereum’s technological advancements, creates an air of excitement and opportunity in the crypto space. Looking ahead, Q3 20255 can turn out to be a game-changing period for the crypto industry as a whole.

Source: Coinglass

With regulatory shifts, technological innovations, and shifting market sentiments, the future of crypto in India and globally seems dynamically poised for growth. To delve deeper into the comprehensive insights and projections shaping the crypto landscape, consider exploring the CoinDCX Year End Report 2024. Uncover the trends, analyses, and predictions that illuminate the path for the crypto market in the year ahead. Dive into the detailed report for a comprehensive understanding of what the crypto future holds.