Key Points
Bitcoin (BTC) and Ethereum (ETH) are about to end a challenging month.
BTC has seen a decrease of over 7.8% to $86,774.59, and ETH has fallen 9.47% to $2,403.
If they close the month at these levels, it will be the worst February in years for both.
However, many in the crypto world are not worried.
They still see a long-term bull market forming, although they recognize that the cycles are changing.
Changing landscape of altcoins
Crypto trader Pentoshi thinks the days of explosive altcoin rallies may be over.
In a post on Feb. 25, he suggested that the crypto market has grown too large for such runs.
The market is now much bigger, with hundreds of millions of people involved, making it harder to move the needle compared to past cycles.
Pentoshi also believes the next big speculative bubble will occur outside of crypto, possibly in Robotics/AI.
While there are still opportunities in crypto, expectations need to be adjusted as the market matures.
The impact of Bitcoin’s halving events on its price may be changing, according to Pierre Rochard, vice president of research at Riot Platforms.
He believes that the fourth halving will be a smaller shock to the market.
Rochard expects a slower, more stable climb in price, aligning with demand rather than causing sharp run-ups and crashes.
He notes that changes in U.S. policy under President Donald Trump could provide a more favorable regulatory environment for Bitcoin.
This, along with increasing institutional interest, is strengthening Bitcoin’s position in the traditional financial system.
However, Rochard acknowledges the risks, including sudden liquidations by over-leveraged traders and periods of sideways price action.
Despite these risks, he remains bullish in the long term and recommends ongoing accumulation of Bitcoin.
The broader macroeconomic environment is another factor influencing the market.
Ari Paul, co-founder of BlockTower Capital, predicts that equities will experience pain for 4-15 months due to deflationary government policies.
While crypto and equities don’t always move together, there is some short-term correlation.
Paul sees Bitcoin as a mix between gold and stocks and predicts a possible dip before the next rise.
However, he remains confident in the broader bull market.
Despite recent price drops, the crypto community remains optimistic.
Investors see a maturing market with more institutional adoption and better regulatory clarity.
The bull run of Bitcoin isn’t following past patterns, but that doesn’t necessarily mean it’s over.
Altcoins may not see the same kind of wild gains from previous cycles, but that’s partly because crypto is no longer a niche market — it’s a trillion-dollar industry.
Macroeconomic trends could lead to volatility, but many expect Bitcoin and Ethereum to continue proving their value in the long run.