The cryptocurrency market has been buzzing with excitement due to the recent rallies of major coins like Bitcoin and Ethereum. This optimism is further fueled by significant events like the approval of the U.S. Spot Bitcoin ETF and the upcoming Bitcoin Halving. Investors are now keenly watching to see how long the current bullish trend will last.

CryptoQuant's founder, Ki Young Ju, has provided some insights based on on-chain data, offering a potential timeline for the end of Bitcoin's current bull cycle. Sharing a Bitcoin price chart on the X platform, Ju noted that Bitcoin is currently in the middle of a bull run, with its market capitalization surpassing its realized cap.

According to historical trends, these bullish cycles usually last about two years. Given the current patterns, Ju suggested that this bull cycle might come to a close by April 2025.

Ju's analysis comes at a time of renewed optimism in the crypto market. The U.S. Spot Bitcoin ETF has seen substantial inflows recently, with over $726 million added in the past four days, signaling renewed investor interest. Bloomberg Senior ETF analyst Eric Balchunas highlighted the ETF's strong performance, noting that the inflows have reached $1.3 billion over the past two weeks, which has helped restore investor confidence.

The overall sentiment in the crypto market is positive, bolstered by recent economic indicators like the U.S. Consumer Price Index (CPI) data. The data showed a cooling of inflation in April compared to the previous month, suggesting a possible shift in the Federal Reserve's stance on interest rates. If inflation continues to decrease, the Fed might reconsider its monetary policy, which could further influence market dynamics and investor confidence.

Despite these positive developments, the market remains volatile. Data from CoinGlass indicates that Bitcoin Futures Open Interest dropped 1.36% in the last 24 hours but rose about 1.26% in the last four hours, reaching 490.28K BTC or $32.65 billion.

As of now, Bitcoin's price has seen slight gains, trading at $66,440.54, a 0.53% increase from the previous day. However, trading volume decreased by 23.31% to $30.20 billion, with Bitcoin reaching a 24-hour high of $66,545.81. Over the past 30 days, Bitcoin has gained nearly 7%, with a weekly increase of over 5%.

In conclusion, while the crypto market is experiencing a wave of positive sentiment and notable gains, the on-chain data analyzed by Ki Young Ju suggests that this bull cycle might end by April 2025. Investors should stay vigilant and watch for further market developments and economic indicators.