The cryptocurrency market has witnessed a significant surge after a prolonged bear market and the intensified crypto winter caused by the collapse of crypto exchanges and firms during 2022 and part of 2023.
Notably, Bitcoin and other major cryptocurrencies have experienced substantial price surges, accompanied by renewed interest from institutional investors entering the market through recently approved spot Bitcoin exchange-traded funds (ETFs).
Adding to the industry’s positive outlook, asset manager and Bitcoin ETF issuer, Grayscale, believes that the current state of the market indicates that the industry is in the “middle” stages of a crypto bull run.
Grayscale recently released a comprehensive report detailing their key findings and insights into what lies ahead. A closer analysis of the report by market expert Miles Deutscher sheds light on the factors contributing to this assessment.
On-Chain Metrics And Institutional Demand
Grayscale’s report starts b
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