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- Trader warns of market top as altcoins drop 70% from highs.
- Institutional investors like BlackRock keep accumulating Bitcoin despite correction.
- Historical cycles suggest Bitcoin may still have room for another rally.
Crypto trader Cameron Fous sparked controversy after claiming the crypto bull run has ended, citing a 70% crash in altcoins.
His statement triggered backlash, with traders pointing to institutional accumulation and historical cycle data suggesting the rally may still have room to grow.
Did the Crypto Bull Run Just End?
A trader, Cameron Fous, recently posted on X, highlighting a signal that allegedly predicted Ethereum’s sharp decline. He claimed his data-driven approach warned of potential danger before ETH plunged 40%.
He emphasized that as a trader, he only holds assets for short periods, locking in profits before major crashes occur.
His analysis suggests that the altcoin market cycle has already played out, leading to steep declines.
His approach aligns with historical market cycles, where steep 70-80% drawdowns have followed major crypto rallies.
Notably, past Bitcoin cycles have peaked within 330 days of breaking the prior all-time high. Feb. 4 marked day 328, raising concerns that Bitcoin may be nearing its top if history repeats itself.
Institutional Bulls Keep Buying—Is the Crypto Bull Run Still On?
Not everyone agrees with Fous’s grim outlook. Crypto enthusiast Roy Kid argued that this cycle differs from previous ones due to strong institutional support.
He highlighted that BlackRock has been aggressively buying BTC and ETH, while Eric Trump openly encouraged investors to buy crypto.
Adding to this bullish narrative, BlackRock CEO Larry Fink has repeatedly expressed optimism about Bitcoin’s future, further fueling speculation that institutions are preparing for continued price appreciation.
According to a recent analysis by Techdev, the crypto market cap is forming a cup-and-handle pattern, a well-known bullish technical formation that often signals further gains.
Bitcoin Demand Remains Strong—Is this Just a Correction?
Despite Fous’s warning, on-chain data tells a different story. Bitcoin demand remains robust, even at historically high levels above $90,000, suggesting that the market is still absorbing pullbacks.
Glassnode’s analysis of past bull market drawdowns shows that Bitcoin has typically seen corrections averaging 25% before entering an accelerated phase of price gains.
In the last three market cycles (2011-2015, 2015-2018, and 2018-2022), similar pullbacks occurred before the final leg of the rally.
The current bull market has yet to experience this acceleration, raising speculation that the peak is still ahead.
Adding to the bullish argument, Glassnode data indicates that long-term holders are not offloading BTC in large volumes. Historically, crypto bull runs end when long-term investors begin selling to newer entrants.
With more than 1 million BTC moving to new buyers since November, long-term holders still control a major portion of supply, signaling confidence in even higher prices.
Some analysts predict Bitcoin could still climb toward $160,000 to $210,000 before the cycle truly ends.
Notable experts, including Matthew Sigel from VanEck, Bernstein, and Bitwise Asset Management, have set similar targets, reinforcing the possibility of another leg up before a full-blown bear market takes hold.
The crypto bull run remains uncertain as traders debate its fate. While Cameron Fous warns of a market top, institutional accumulation and historical cycles suggest further upside.
If Bitcoin holds key levels, another rally could follow, but a breakdown may confirm Fous’s bearish outlook.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
