Market
What’s Next for Crypto Prices?

Things are getting quiet — really quiet — raising concerns about whether this is still a bull market for the highly volatile crypto ecosystem. While this answer lies in Bitcoin (BTC) performance and altcoin prices, historical data and recent developments can predict the point at which the cycle is.
In this analysis, BeInCrypto examines crucial on-chain metrics that suggest the bull market started about two years ago and could have reached 50% completion.
History Shows the Cycle Is Way Beyond Bears
The year 2022 was a particularly difficult time for the crypto market, which had previously thrived in 2021. The industry saw major firms like FTX, Celsius, and Three Arrows Capital (3AC) collapse, triggering widespread bankruptcies and causing significant declines in cryptocurrency prices.
By November 21, 2022, Bitcoin (BTC) had plunged to $15,409, Ethereum (ETH) was trading at $1,065, BNB at $248.60, and Solana (SOL) had dropped to $7.70. These levels were the lowest these assets had seen in nearly two years.
Given this downturn, it seems that November 2022 marked the bottom of the bear market. The strong price recovery in early 2023 supports the idea that January was the start of a new bull cycle. Historically, crypto market cycles span roughly three years (1,047 to 1,278 days). Based on this timeframe, the current cycle is around 640 days in, indicating that the bull market is approximately halfway through.
Notably, the Bitcoin halving, which typically drives massive price increases, occurred earlier this year. Interestingly, Bitcoin reached a new all-time high even before the halving, driven largely by the approval of spot ETFs. Despite the recent corrections and periods of consolidation, on-chain metrics suggest that BTC has not yet reached the peak of this cycle. This leaves room for potential further growth as the bull market progresses.

As seen above, the post-halving rally began in the fourth quarter (Q4) of each halving year. Thus, if we go by that recurrence, then a substantial upswing could start around October. Interestingly, CryptoQuant’s CEO, Ki Young Ju, also seems to agree with the sentiment.
“In the last Bitcoin halving cycle, the bull rally began in Q4. Whales won’t let Q4 be boring with a flat YoY performance,” Young Ju highlighted on X.
Bitcoin, ETH, and Altcoin Prices Still Have Room to Grow
Historically, Bitcoin’s price has at least doubled during each halving year. In 2012, BTC’s price surged by 2.52x, followed by a 2.26x increase in 2016, and a 4.05x jump in 2020. At the start of 2024, Bitcoin was trading around $42,208. Even after reaching $73,750 in March, the data suggests the bull cycle is not yet over.
To match past halving performances, Bitcoin’s price would need to rise further, targeting between $80,000 and $85,000 before this cycle peaks. The historical trends indicate room for more growth in 2024.
Now, to other things — starting with ETH. During the 2021 bull run, the second most valuable cryptocurrency gave BTC a run for its money, outperforming it for an extended period.
Despite the spot Ethereum ETF approval, ETH hasn’t mirrored its performance from three years ago. On June 20, Ethereum’s dominance was 18.80%. As of now, it has dropped to 15%, signaling that the altcoin has yet to replicate its impressive 2021 run.
Read more: Bitcoin Halving History: Everything You Need To Know

Bitcoin dominance, on the other hand, is over 57%. Furthermore, ETH’s underwhelming performance has also been attributed to the delay in this cycle’s altcoin season.
It is worth noting that the cryptocurrency’s rally was one of the major factors that drove many other altcoins to incredible peaks last time. But recently, BNB appears to be the only top altcoin from the last cycle that had surpassed its previous all-time high.

Meme Coins, Celebs Already Tasted the Bull Market
While altcoins continue to underperform, two notable events suggest that this bull market might be halfway through. The first one is the incredible returns from meme coins. Last time, several meme coins on Ethereum and the Binance Smart Chain produced many out-of-the-blue millionaires.
This time, the blockchains offering such seem to be Solana and, most recently, Justin Sun-led Tron. Second on the list is the involvement of celebrities. In 2021, stars like Logan Paul, Paris Hilton, and Snoop Dogg, among others, bought into the NFT hype.
Meanwhile, the NFT craze appears to be over, but celebrities have also been involved with the market. People like Andrew Tate and Iggy Azalea have launched DADDY and MOTHER meme coins, respectively.

Another metric to consider for gauging the crypto bull market is retail investor interest. Whenever retail investor interest declines, it suggests the bull market is ongoing but hasn’t peaked.
Google Trends data shows searches for “cryptocurrency” hit their highest level in 2021, scoring a perfect 100. However, searches have been consistently lower this year, signaling reduced retail activity.
A bull market typically sees a surge in retail investors as they drive the demand. The current dip in interest suggests that this cycle hasn’t reached its peak yet. The lack of widespread retail FOMO points to more potential upside as the cycle matures.
Long-Term Data Shows the Uptrend Might Kick Off Again
Additionally, Glassnode-provided Long-Term Holder Realized Profit/Loss Ratio comes into play. As the name suggests, this metric tracks the behavior of long-term holders, telling if they are booking profits or enduring losses.
As of this writing, this metric has declined from its peak in March, indicating that holders have reduced profit-taking activity. This fall is similar to the 2021 cycle when Bitcoin’s price went down before restarting another uptrend.
Read more: 7 Must-Have Cryptocurrencies for Your Portfolio Before the Next Bull Run

Therefore, if past performances impact future trends, then BTC, as well as other cryptos, might reach new highs. The on-chain analytic platform also agrees in its report dated August 20.
“Notably, during the March 2024 ATH, this metric reached a similar altitude to prior market tops. In both the 2013 and 2021 cycles, the metric declined to similar levels prior to resuming an uptrend in price,” Glassnode stated.
In summary, while some investors remain skeptical about the current market conditions, several indicators point to this still being a bull market despite recent volatility. The analysis suggests that prices may continue to rise, pushing Bitcoin, Ethereum, and other altcoins to new highs and fueling further momentum in this cycle.
However, caution is still advised. Heightened volatility and periodic drawdowns can lead to sudden price shifts. If realized losses persist and dominate the market, the current cycle could transition into a bear phase.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
BNB Springs Back From $531 With Unshaken Bullish Conviction

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My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.
I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.
When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.
Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.
My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.
Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people – people who make an impact in my life no matter how little it is.
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Market
XRP Futures Traders Increase Bets on Upside

Over the past week, XRP’s price has remained range-bound amid the broader market’s recovery attempt.
However, with a growing bullish bias toward the altcoin, XRP may be on the brink of breaking free from this range and trending upward. This analysis explains why.
XRP Futures Traders Bet on Upside as Long Positions
The momentum shift towards the bulls has become evident, particularly within the futures market, where long bets on XRP are now surpassing short positions. This is reflected by the token’s XRP’s long/short ratio, which is currently at 1.07.

The long/short ratio measures the proportion of long positions (bets on price increases) to short positions (bets on price declines) in the market.
When its value is below one, it indicates that the number of short positions outweighs long positions in the market, suggesting bearish sentiment or a lack of confidence in the token’s future price performance.
As with XRP, when an asset’s long/short ratio is above one, it means there are more long positions than short ones. It indicates that traders are predominantly bullish on XRP and hints at a higher likelihood of an upward breach of its narrow range.
In addition, XRP’s relative strength index (RSI) has climbed steadily, indicating a gradual rise in demand for the token. The key momentum indicator, at 50.77, currently rests above the neutral line and is in an uptrend.

The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100. Values above 70 suggest that the asset is overbought and due for a price decline, while values under 30 indicate that the asset is oversold and may witness a rebound.
At 50.77, XRP’s RSI signals a shift toward bullish momentum. It indicates that buying pressure is starting to outweigh selling pressure, and the asset may be poised for further price increases.
XRP Eyes $2.18 Resistance as Bulls Look to Push for $2.29
XRP currently trades at $2.13, just 3% away from its next significant resistance level, $2.18. If buying pressure intensifies and the altcoin successfully flips this price point into a support floor, it could trigger further price growth. In this scenario, XRP could potentially climb to $2.29.

However, if demand weakens and the bears regain control, XRP may remain range-bound. It could even break below the $2.03 support and fall to $1.99.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Optimism, Aztec, and Huma Finance

The crypto market is attempting a recovery, with Bitcoin (BTC) nearing the $90,000 milestone. Amidst improving sentiment, several startups are launching enticing airdrops, providing crypto enthusiasts with opportunities to engage with budding platforms without initial financial input.
This week, we discuss airdrop participation opportunities from three projects with financial backing from renowned investors.
Optimism
Layer-2 blockchain Optimism is one of the top three crypto airdrops this week. The Optimism crypto airdrop comes after the network raised $267.50 million from key investors such as Andreessen Horowitz, Coinbase Ventures, Paradigm, and IDEO CoLab Ventures, among others.
The airdrop concerns a SuperStacks Campaign, which opened on April 16 and will remain until June 30.
“With many chains building as one, a new network structure is emerging to solve fragmentation in Ethereum. This network is modular, interoperable, and composable by default. We call it the Superchain: and it changes everything,” Optimism explained.
Rewards are in the form of points, awarded for interacting with the projects. Airdrop farmers also get rewarded for providing liquidity to superchains, scalable blockchains combined into a single ecosystem to solve Ethereum fragmentation.
Actual tasks bring 10 EXP (experience points) per $1 of daily liquidity. In the past, Optimism held five airdrops, giving away over 265 million tokens.
“You may be eligible for the 6th airdrop without realizing it. In the system, we collect badges as you perform operations on Optimism. However, since it counts your previous operations when you log in, you may have opened many badges.,” one airdrop farmer explained.
This means even minimal effort could yield rewards. However, participating in the Optimism airdrop does not guarantee future rewards. Instead, it only provides an opportunity to earn points.
Aztec
Another top crypto airdrop to watch this week is Aztec, bringing forth a privacy-focused Layer-2 zero-knowledge (ZK) rollup on Ethereum.
Aztec is backed by $119.1 million in funding from investors such as Andreessen Horowitz (a16z), Paradigm, Consensys, and Coinbase Ventures.
The project has garnered significant attention, following talks of a native AZTEC token and a confirmed retroactive airdrop for early users.
On April 17, the network announced the Aztec Sequencer Form, front-running a public testnet. Interested participants were asked to fill out the form to gain early access to the testnet.
Historically, blockchain projects reward testnet participants with tokens. Based on this, Aztec’s funding and investor backing increase the probability of an airdrop.
Huma Finance
This week, the watchlist also includes Huma Finance, the first PayFi (Payment Finance) network built on Solana. The project focuses on transforming global payment settlements using blockchain technology.
Huma Finance launched the second version of point farming, which is available only on the Solana network. Participants can deposit USDC tokens and earn Feathers (points). Notably, no KYC is needed in this version, and more pools are available.
Recently, the project announced social and deposit quests on Galxe, allowing users to complete these quests and try to win a share of $2,000. Notably, participants should have at least lvl 2 of Web3 Passport.
“Huma 2.0 is The Next Wave! Now anyone can earn real yield and stack rewards, exclusively on Solana. New quest is LIVE on Galxe Quest. Join the PayFi movement for a chance to grab a share of $2000 USDC,” the network shared.
The project also launched a point farming program, in which participants can deposit USDC tokens into one of the pools. For this activity, users must pass KYC.
Meanwhile, Huma Finance boasts up to $46.3 million in funds raised from backers such as HashKey Capital, Circle, ParaFi Capital, and Distributed Global.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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