- Experts argue the crypto market cycle isn’t over.
- Bitcoin and Ethereum lead current growth phase.
- Altcoins remain under pressure, awaiting liquidity shift.
Despite discussions about a possible cycle end, data and expert opinions indicate the crypto market, led by Bitcoin and Ethereum, remains in a growth phase as of late October 2025.
This ongoing phase holds potential for further gains, driven by institutional interest, which could significantly impact both investor strategies and market dynamics in the coming months.
The crypto market cycle remains active, with key opinion leaders asserting that the growth phase has not ended. Bitcoin and Ethereum are leading the cycle, though most altcoins remain under pressure amid ongoing challenges. Raoul Pal, CEO of Real Vision, highlighted the potential for further growth, saying,
“We haven’t seen anything yet. The biggest upside moves usually come when everyone is tired, bored, and the narrative is dull – that’s when institutional and macro liquidity hits hardest and rallies become exponential.”
Institutional interest continues focusing on Bitcoin, supported by technical on-chain data which suggests dominant market leadership.
The impact of this cycle is evident in the rise of Bitcoin, which has hit new highs around $120,000. Ethereum also benefits, crossing $3,000, though altcoins have yet to see a significant upturn. Financially, institutional flows are pouring into Bitcoin and Ethereum. Altcoins are struggling due to limited liquidity and hesitance from investors, reflecting in stagnant Total Value Locked (TVL) figures in DeFi sectors.
Analysts, including Benjamin Cowen, predict altcoins may follow Bitcoin’s lead post-peak. Institutional focus remains heavily on long-term Bitcoin holdings rather than diversifying into riskier assets. Historical data suggests that while Bitcoin and Ethereum maintain dominance, altcoins could experience growth once liquidity rotates. Long-term holders are currently accumulating assets without signs of a distribution phase.
