The crypto bull market is poised to enter its second and final stage, characterized by euphoria and rapid price movements, according to James Check, the lead on-chain analyst at Glassnode.

In an exclusive interview with Cointelegraph, Check explained that the transition from the initial enthusiastic bull phase, which began in October 2023 and ended after Bitcoin reached its all-time high earlier in March, is underway.

Check predicts that in the upcoming phase, people will become increasingly excited, leading to higher volatility. He emphasized that greater media coverage of Bitcoin will drive up demand, resulting in price increases until the market sees a return of supply to meet demand.

Notably, Check highlighted that the current bull market has been one of the strongest in Bitcoin's history, with smaller corrections observed throughout the rally. He interpreted the market's ability to quickly find support as a positive sign.