Ansem: Cryptocurrency Market Shows Signs of Bottoming Out, Start of a New Bull Market Awaits On-Chain Data Confirmation

BlockBeats News, August 5th. Renowned crypto KOL Ansem posted, stating that the crypto market is showing signs of bottom formation. Firstly, the price has started to demonstrate resilience to negative news, such as Saylor selling millions of dollars in the $58k to $60k range, yet BTC continues to form higher lows.

Secondly, native crypto mobile apps are seeing real user growth, with Pump.fun's weekly revenue up 20% and Fomo surpassing 100k users within a week; institutional interest is also rebounding, including developments with Robinhood Chain and billionaire Paul Tudor Jones publicly expressing bullish sentiment towards BTC. Additionally, crypto-related content's popularity on social media is on the rise again.

Ansem suggests that if on-chain tokens continue to make higher highs after the initial volume peak, popular token holders continue to increase, mainstream media refocuses coverage, developers experiment with new on-chain mechanisms, and successful protocols incentivize through airdrops, this may further confirm the beginning of a new bull cycle.