With Bitcoin’s [BTC] latest halving now in the rearview mirror, attention is shifting toward what could be the most pivotal stretch of this market cycle.

Historically, halving events have set the stage for dramatic price rallies within 12 to 18 months, and 2025 is shaping up to be no exception.

Whales are quietly accumulating, institutional interest is gaining momentum, and analysts are projecting new highs on the horizon.

But beyond the historical playbook, a new set of variables is in play — regulatory shifts, ETF inflows, and macroeconomic uncertainty.

The question isn’t just if Bitcoin will rally, but how the forces shaping this cycle will redefine what a bull market looks like.

Historically, Bitcoin’s most explosive gains have occurred 12 to 18 months after a halving event.

Each past cycle saw substantial price appreciation well after the halving, culminating in peaks that came long after the initial post-halving hype had cooled.

With the most recent halving now behind us, this timeline places a potential market top sometime between mid and late 2025.

While it’s tempting to ask if the peak is already in, historical precedent suggests otherwise.

Though institutional inflows and ongoing regulatory developments may alter the shape of this cycle, the odds favor more runway ahead.

For now, the data implies the current bull market may still be warming up and not winding down.