When will the next bull market arrive? Why market structure is becoming more important than the old euphoria

The next bull market won’t look like the ones before. That’s the key lesson from 2024 and 2025. While retail investors hoped for explosive gains, the market mechanics changed fundamentally. Institutions now dominate, rules set new boundaries, and the psychological patterns of the past no longer have the same power. To understand the next bull run, you must grasp this shift.

Institutional Dominance: How Market Structure Shapes the Next Bull Market

Cryptomarkets follow four-year cycles tied to Bitcoin halving events. A few years ago, these cycles were driven by retail FOMO. Now, institutions set the pace. The introduction of spot Bitcoin ETFs in 2024 was the turning point. Instead of wild highs and lows of previous years, money flowed steadily and quietly into the market.

The result? The 2024 bull market yielded only about 100% returns after the April 2024 halving, whereas earlier cycles saw three-, four-, or even fivefold gains. The rally was longer but less dramatic. For professionals with risk management tools, that was good. For retail investors waiting for the big hype, it was disappointing.

This trend will continue. Institutions prefer stable, compliant, mature assets. They have no interest in memecoin madness or sudden crashes that used to paralyze the market. The next bull run will likely be similarly calm and structured—unless drastic market changes occur.

Why Many Investors Didn’t Build Great Wealth in the 2024 Bull Market

Four factors explain missed opportunities in the last cycle:

Behavioral Biases: Emotions drive poor decisions. FOMO causes people to buy at high prices, loss aversion keeps them holding falling positions, and herding leads them to follow the crowd without thinking. Studies show younger investors and early crypto enthusiasts are especially vulnerable. Instead of rationally acting, they follow their feelings.

Poor Timing: The best returns come from buying early in recovery phases. Many missed that window because they were scarred by the 2022 crash. They stayed away, bought only after prices had already risen, risking big losses during corrections. On-chain data shows retail activity was lowest at the bottom—exactly the opposite of what was needed.

Lack of Risk Control: Many investors have no exit plan and don’t manage position sizes. They hold without taking profits, use leverage excessively, and neglect diversification. In bull markets, greed keeps them from selling during strength. When the trend turns, paper gains quickly turn into real losses.

Lack of Euphoria: The 2024–2025 period lacked the extreme retail euphoria of previous cycles. Google searches for cryptocurrencies remained low compared to 2017 or 2021. New retail investors didn’t flood in as usual. Instead, institutional investors via ETFs bought in, bringing stability but also dampening explosive gains.

Regulation and Macroeconomics: The New Playground for the Next Bull Market

Clearer rules help crypto markets grow but also curb wild speculation. In 2025, markets benefited from pro-crypto legislation in the US. Still, these rules prevent the wild surges that retail investors loved in earlier cycles.

Macro factors also matter. Global money flows, interest rates, and economic expectations determine whether the next bull run will be fast or slow. Investors ignoring these signals risk missing opportunities or facing unexpected dangers.

Bitcoin Halving 2028: What the Next Bull Market Might Bring

The next halving is in 2028. It will trigger growth but probably with less impact than previous cycles. Markets are maturing, institutions dominate, and this means lower returns compared to the wild west of earlier years.

Experts expect smaller multiples of price gains than in 2024. But: the bull market could last longer and be more stable. For investors, that means less adventure but also fewer total losses.

The same behavioral pitfalls will strike again in 2028. FOMO will exist, poor timing will harm people, and greed will destroy positions. Without a clear plan and strategy, many will fail again.

How to Prepare for the Next Bull Market

To succeed in the upcoming cycle, you need three things:

1. A Clear Strategy: Decide in advance how much you will invest, where to take profits, and when to exit positions. Greed has no place here.

2. Proper Timing: Watch signals early. When the market begins recovering from a bear cycle, that’s the best time to buy—not when everyone else is already in. Discipline beats FOMO.

3. Risk Management: Use stop-losses, diversify across multiple positions, and avoid leverage. The next bull market will be more structured than previous ones, requiring more professional approaches from retail investors.

The Next Bull Market Won’t Fix Everything

The main message: the next bull run won’t be a magic cure-all that makes up for missed opportunities and losses. Markets are maturing, institutions dominate, and new rules are shaping the game. The days of wild 10x overnight riches are probably over.

But opportunities still exist. They belong to those who understand how the market works now, have a plan, and have the courage to act when others hesitate. The Bitcoin halving in 2028 will be an opportunity—but only for those prepared. Are you ready?