On-chain analysts say the second phase of the cryptocurrency bull market is about to begin.

In a recent Cointelegraph interview, on-chain analyst James Check argued that the cryptocurrency market is transitioning from an “enthusiastic bull” phase to a “euphoric bull” phase.

According to James Check, senior on-chain analyst at Glassnode, the cryptocurrency bull market will soon transition into its second and final phase, characterized by euphoria and rapid price movements.

“We are transitioning from an enthusiastic bull market, typically below all-time highs, to a euphoric bull market,” he said in an exclusive interview with Cointelegraph.

According to Check, the frenzied upward phase began in October 2023 and ended after Bitcoin (BTC) reached an all-time high in early March.

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Source: https://cointelegraph.com/news/second-phase-crypto-bull-market-about-start-lead-on-chain-analyst