Crypto’s Power Players Are Extending This Bull Cycle — Here’s How

It is a no-brainer that momentum and trends in the cryptocurrency market are primarily influenced by large players, veterans, and OGs. On-chain data suggests this group of market participants is playing the long game in the current bull run.

According to an analysis by the market intelligence platform CryptoQuant, influential crypto players appear to be trying to prolong the bull market. This is evident in several purported attempts to artificially suppress markets. This is often done by cooling overheated markets after significant rallies.

Comparing Past and Current Bull Runs

CryptoQuant analyst Dan compared bull runs seen in 2017 and 2021 with the current cycle. The expert then highlights a distinct behavior in this market. In 2017, the bull cycle recorded overall upward trends with short correction periods. Towards the end of the cycle, a correction spanned seven to eight months. Dan likened this period to one seen in 2024.

For the 2021 bull market, cryptocurrencies witnessed a prolonged correction in the early phase, with the onset of COVID-19 extending the dip to roughly a year. Afterward, the cycle continued with a significant rally and minimal corrections. Per Dan’s analysis, the 2021 bull run showed a pattern where significant upside movement follows substantial corrections in duration and magnitude.

The current cycle has witnessed two patterns. In the early stage, the market saw short corrections and rallies similar to previous cycles. In mid-2024, bitcoin (BTC) started to record massive surges followed by deep corrections. Dan reports that this occurred twice, from March to November 2024 and from January to April 2025. 

During these correction periods, altcoins underperformed, and their lack of momentum dampened market sentiment. Although brief rallies followed the dips, the market has continued to encounter resistance.

Influential Player in Control

With the current cycle displaying a different pattern from previous ones, Dan insisted that it calls for a distinctive interpretation. The analyst stated that the dips appear to be artificial market suppression, which is often interpreted as an effort to cool the market after notable spikes.

“Ultimately, the cycle is expected to conclude with a euphoric phase marked by a significant bubble,” Dan added.

Dan’s words align with those of pseudonymous high-risk leverage trader James Wynn, who continues to insist that some people are controlling the Bitcoin market. Wynn was liquidated for over $100 million on Hyperliquid last week after placing a $1 billion long bet on BTC.