The market is always fluctuating, and a true bull run often starts quietly when most people are unaware. Let us put aside subjective emotions and analyze several key indicators that may signal a big bull run in 2025 from a logical and structural perspective.

First of all, the characteristic of the early stage of a bull run is widespread skepticism and caution in the market. Many investors are still immersed in bear market thinking, lacking confidence and patience, and are hesitant to enter the market rashly. In contrast, at the peak of a bull run, it is often accompanied by a chorus of calls to buy on social media and a rush of retail investors.

Secondly, large funds have already quietly positioned themselves. While ordinary investors are still waiting for the "ideal entry opportunity," the real large funds have already completed their positions. When you see certain institutions or well-known investors publicly announcing their holdings, it is very likely that they are already preparing to take profits.

Third, the structural opportunity of the Bitcoin halving cycle. In mid-2024, Bitcoin will complete its fourth halving. Historical experience shows that within 6 to 12 months after the halving, Bitcoin often breaks its historical high and begins a strong bull run. The year 2025 happens to be a key point in this cycle, structurally possessing sufficient bullish logic.

Fourth, the market needs a driving force, and the "halving" is undoubtedly the best catalyst. In a market with high information transparency, rallying the market has become the main means of attracting incremental funds. Although the halving event is merely superficial, it can trigger game-playing among institutions, drive market sentiment, and stimulate retail investors to follow suit, thereby creating real upward momentum.

Finally, the improvement of the macro environment has also provided favorable conditions for the bull run. As the global economy gradually emerges from the slump of 2022-2023, market risk appetite is expected to rise, creating a good atmosphere for asset prices to increase.

In summary, the market in 2025 is likely to experience a strong bull run. However, investors must act cautiously, manage risks well, and avoid blindly chasing highs. After all, the market is always full of uncertainty, and maintaining rationality and vigilance is the key to long-term success.