Checkonchain founder Checkmatey beforehand recognized company Bitcoin purchases by “zombie firms” as a possible high sign for Bitcoin markets.
Greater than a 12 months in the past, Checkmatey predicted, albeit partially as a joke, that companies like GameStop “pulling a Saylor” by including Bitcoin to their treasury reserves may point out market exhaustion.
GameStop, broadly thought of a quasi-zombie firm as a consequence of its inventory valuation pushed largely by meme tradition relatively than retail fundamentals, lately introduced exactly such a transfer. This company technique aligns with Checkmatey’s previous thesis, highlighting the speculative enthusiasm typically previous Bitcoin cycle peaks.
In reply, market commentator CryptoVizArt shared his prediction from 2024, drawing parallels with MicroStrategy’s position. He asserted that when its “inventory value begins heading south, the subsequent bear market will start, presumably manner sooner” than crypto markets anticipate—maybe as early as Q2 2025.
CryptoVizArt additional warned that firms like MicroStrategy, whose valuations are additionally largely decoupled from core enterprise metrics, may set off extreme promoting strain paying homage to the Luna collapse.
Nonetheless, in keeping with previous cycle patterns, we’re nonetheless halfway via Bitcoin’s bull run. Traditionally, Bitcoin tends to peak round 540 days after halving occasions—inserting the anticipated cycle high round September or October 2025.
Nonetheless, the earlier-than-expected peak in January raises questions concerning the present market trajectory and whether or not company Bitcoin accumulation indicators accelerated maturity or potential vulnerability. Bitwise CIO lately argued that the 4-year cycle for Bitcoin could also be over, which may very well be confirmed by an earlier-than-expected bear market and market high.