Can you feel the restlessness in the air? This is not a baseless guess, but a real signal pulsating in the global economic heartbeat—a new bull market in cryptocurrency is gaining momentum. As we examine the global tide of declining interest rates, the continuous expansion of M2 money supply, and the discreet yet firm entry of institutional capital, a clear picture is emerging: a transformative wave of Bitcoin and cryptocurrency is about to sweep in.
The core value logic of Bitcoin: ultimate scarcity in the digital age
Against the backdrop of endless money printing by central banks, Bitcoin's absolute cap of 21 million coins stands like a digital Noah's Ark in the digital age. This is not merely a technical feature, but a disruptive response to the fundamental flaws of the modern fiat currency system. As rumors circulate in the U.S. about exploring the inclusion of Bitcoin in strategic reserves, and as pension funds, insurance companies, and even sovereign wealth funds quietly enter the market, Bitcoin is completing an astonishing transformation from a "fringe speculative asset" to a "strategic macro hedging tool."
Macroeconomic currents: dual drivers of interest rate cuts and inflation
Global central banks are collectively shifting towards easing: the European Central Bank has cut rates to 2%, followed closely by the Bank of Canada, and the pressure for the Federal Reserve to lower rates continues to rise. The low-interest-rate environment acts as a catalyst, driving capital from the weak bond market into more promising risk assets. History is the best predictor—during the low-interest cycle from 2020 to 2021, Bitcoin's value skyrocketed, and this time, the popularity of spot ETFs, the improvement of institutional custody facilities, and broader public awareness will provide a more solid foundation for the rise.
Meanwhile, the global M2 money supply has ballooned to $93 trillion, with the U.S. M2 alone reaching $21.93 trillion, growing at an annual rate of over 4%. The continuous dilution of fiat purchasing power is forcing global capital to seek value anchors. In a world of unlimited money printing, Bitcoin's absolute scarcity becomes the ultimate weapon against inflation—every newly printed dollar is backing Bitcoin's value.
Institutional whales: a silent yet firm capital revolution
True capital revolutions often occur quietly. In the first quarter of 2024, over $12 billion flowed into U.S. Bitcoin spot ETFs, and BlackRock's IBIT asset management scale quickly surpassed $18 billion. This is not the frenzied chasing of retail investors, but the strategic positioning of institutional whales over several years. Family offices, insurance companies, and even government entities are establishing long-term positions through channels like Fidelity Custody or Coinbase Prime. This stable and continuous capital inflow is building an unshakeable value floor for Bitcoin.
Perfect storm: the intersection of macro cycles and crypto halving
The current macro environment constitutes a rare "perfect storm": the global wave of interest rate cuts weakens fiat returns, excessive money supply erodes purchasing power, institutional adoption brings in massive capital, and geopolitical risks remain high. Meanwhile, Bitcoin has just completed its fourth halving, permanently reducing new supply. The collision of surging demand and contracting supply is brewing epic market tension. Once Bitcoin effectively breaks through the key resistance level of $112,000, targets of $120,000 or even higher will be within reach.
Historic turning point: the last window of cognitive lag
When former Goldman Sachs executive Raoul Pal publicly states that "he has allocated half of his personal assets to cryptocurrency," and when BlackRock CEO Larry Fink admits that "Bitcoin is digital gold," the traditional financial walls have crumbled. The current market is far from a frenzied peak—on-chain data shows that the proportion of long-term holders is close to historical highs, and the real selling pressure has yet to arrive.
The crypto market has never lacked volatility and skepticism, but those who questioned Bitcoin in 2015 and mocked DeFi in 2019 have ultimately been run over by the wheels of time. As the fiat currency system struggles with inflation, and as institutional capital rebuilds trust on the blockchain, a financial revolution that will change the wealth landscape is unfolding before our eyes. What Bitcoin and cryptocurrency offer is not just investment returns, but a historic opportunity to participate in reshaping the global financial system.
Before cognition becomes consensus, before the wave sweeps everyone—are you really ready?
Related: Singapore's crypto regulation upgrade: from a safe haven to a regulatory high ground, do exchanges need to "wander the earth"?
Original article: “New Cycle for Crypto Assets: In-Depth Analysis of Bull Market Core Drivers and Layout Opportunities”
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