Crypto analyst Lark Davis recently predicted it this running of the bulls it may be more massive than most people imagine. He explained why this is happening market cycle could stand out from the previous ones.

Why This Running of the Bulls Will Be ‘Face Melting’

Davis mentioned in X (formerly Twitter) post that cryptocurrency market participants will soon witness a “melting-in-your-face bull wave.” He cited the influence of institutional investors as the reason this bull market will stand out. First, he noticed how US Bitcoin spot ETFs they already record hundreds of millions of daily revenues.

Davis highlighted this with the impressive demand for these funds fund issuers have purchased 56,150 BTC in the last 18 days of trading. He claims that this amount of Bitcoin represents four months of supply injected into the ecosystem by Bitcoin miners. These fund issuers are not just institutions purchasing the flagship cryptocurrency.

Davis also noted that companies such as MicroStrategy, Block, and Semler Scientific continue to accumulate Bitcoin. The analyst also claimed that wealth managers and pension funds around the world are “lining up” to invest in Bitcoin. Meanwhile, Davis also alluded to Spot Ethereum ETFs and the huge impact they can have on the current market cycle.

These Spot Ethereum ETFs are expected to see huge inflows once they start trading. JPMorgan predicts these funds could come in anywhere from $1 billion to $3 billion, and cryptocurrency research company K33 Research predicts that up to $4 billion could flow into these funds in the first five months of operations.

Cryptocurrency analysts like Michael Van de Poppe also expressed their attitude towards Spot Ethereum ETFs, predicting that these funds could be a catalyst for the continuation of the bull market. Specifically them provide that these Spot Ethereum ETFs may start the altcoin season and Ethereum and other altcoins will see major moves.

Other factors that can positively influence this run

Following Davis’ post, cryptocurrency analyst Patric scratched other factors that could positively impact this bull run. First, the analyst mentioned interest rate cuts and noted that Canada and the European Central Bank have already lowered interest rates. He believes the United States will do it will probably follow suit soon.

Second, Patric noted that the Fed’s Treasury bond purchase program has begun. These developments, together with interest rate cuts, are expected to lead to quantitative easing (QE), which could enhance investor confidence in investing in risky assets such as Bitcoin and other cryptocurrencies. Finally, the analyst noted that this is an election year, and the US presidential elections are scheduled for November.

Republican presidential candidate Donald Trump also provided a much-needed boost to the market confirming his pro-cryptography stance. On this basis Standard Chartered Bank predicts that Bitcoin could surge to $150,000 this year if Trump wins.

Featured image created with Dall.E, chart from Tradingview.com