Current Situation: A New Chapter in the 2024-25 Cryptocurrency Bull Market
As of December 2025, Bitcoin is at a turning point. The spot Bitcoin ETF has been approved in the United States for nearly two years, attracting over $28 billion in cumulative capital inflows, fundamentally changing traditional finance's perception of digital assets. Meanwhile, Bitcoin's price has risen from approximately $40,000 at the beginning of 2024 to a high of $93,000 in mid-year, currently fluctuating around $86,000 — the scale and sustainability of this cryptocurrency bull market have far exceeded previous cycles.
Global top asset management firms like Blackstone and BlackRock are actively promoting Bitcoin ETFs, and large institutional accumulations by companies led by MicroStrategy and Elon Musk mark the beginning of a new era. This is no longer a market driven by scattered retail investors as in 2013 or 2017, but one influenced by Federal Reserve policies, geopolitical risks,