Bitwise Europe: The current bull cycle is unlikely to peak in 2025

Bitwise Europe released a report saying, "Bitwise funds clearly turned to Ethereum and mainstream altcoins in August, supported by strong ETP inflows and improved risk appetite. Although the seasonal characteristics of September indicate continued market volatility, the increasing signs of sell-side weakness, coupled with macroeconomic positive factors, may lay the foundation for market stabilization in the fourth quarter. Despite recent profit-taking and neutral sentiment, strong increase in holdings from various wallet groups and continued adoption of corporate fund management suggests strong potential demand. While short-term downside risks remain, valuations and macro environments suggest that the current bull cycle is unlikely to peak in 2025, potentially breaking the historic four-year halving pattern."