Looking at the development trajectory of the Bitcoin market, we can clearly see a complete bull run cycle unfolding. From the end of 2022 to the beginning of 2024, the market experienced a turning point filled with doubts and uncertainties. It wasn't until the Bitcoin price broke through the $50,000 mark that investors gradually became convinced that a new bull run had arrived.

The period from March to October 2024 can be seen as the 'halftime' of the bull run. During this period, the market has shown severe volatility, and the price trend of Bitcoin has exhibited a diffusion triangle pattern, which has not only shaken investors' confidence but also led to doubts about the previously optimistic views on Bitcoin breaking the $100,000 mark. Meanwhile, other cryptocurrency markets have also experienced significant pullbacks, casting the entire industry into a state of confusion.

However, in November 2024, Bitcoin once again broke through the key resistance level of 73777 points, marking the beginning of the second half of the bull run. Subsequently, Bitcoin soared and easily surpassed the 100,000 mark. Ethereum also broke free from its consolidation pattern and began a strong rebound. Other cryptocurrencies generally achieved gains of 1 to 3 times, further confirming the arrival of the second half of the bull run.

At the beginning of 2025, the market experienced a significant correction, with Bitcoin dropping from $109,500 to $75,000, and Ethereum also falling from $4,100 to $1,350. However, this correction did not last long. On April 8, the market hit bottom and rebounded, with the price of Bitcoin climbing all the way up to $122,000 from $75,000, and Ethereum also starting to rebound strongly from its low.

This series of market dynamics clearly demonstrates the cyclical characteristics of the cryptocurrency market. From initial uncertainty to breaking through key resistance levels, followed by significant pullbacks and strong rebounds, each stage reflects changes in market participants' sentiments and adjustments in investment strategies.

In the face of such a volatile market, investors need to maintain a clear mind, having confidence in long-term trends while also being wary of potential sharp fluctuations in the short term. At the same time, it is important to be aware of the differences in performance among different cryptocurrencies and to diversify risks in investment decisions.

In the future, with the continuous entry of institutional investors and the gradual clarification of the regulatory environment, the cryptocurrency market is expected to usher in a more mature and stable development phase. However, before that, investors still need to cautiously respond to the market's high volatility and manage risks.