El Bullrun 2024-2026: How This Crypto Cycle Is Radically Different

A market you wouldn’t recognize anymore: The transformation of the current bull run

The cryptocurrency sector has always revolved around cycles of explosion and contraction. But if you compare what is happening now with the movements of 2013, 2017, and 2021, you’ll discover that this 2024-2026 bull run operates under completely different rules. It’s not just about “Bitcoin goes up more,” but a fundamental reordering of who invests, how they do it, and for what reasons.

Previous cycles were mainly driven by technological curiosity, speculative euphoria, and media that barely understood what they were talking about. Today, the game has different players: multinational banks, hedge funds, governments exploring blockchains. The landscape is unrecognizable.

From niche to mainstream: How institutionalization changed everything

Not long ago, cryptocurrencies were the domain of enthusiasts and tech rebels. The 2013 bull run thrived on that—pure speculation, early exchanges, passionate but small communities. In 2017, the ICO boom allowed more people to get in, but it was still mostly retail (small investors) driven by FOMO (fear of missing out).

Now everything has changed. The launch of Bitcoin spot ETFs in the United States was the turning point. Suddenly, funds like BlackRock, Fidelity, and other financial giants could buy, custody, and trade cryptocurrencies in a regulated manner. The institutional volumes that entered are literally unprecedented in the sector’s history.

This institutionalization has a positive side and a complex one:

The good: More liquidity, less extreme volatility, greater global confidence. Prices no longer move solely on tweets or reckless speculation. The market behaves more professionally.

The complex: The bull run is no longer a “against the system” movement—it’s now integrated with it. Bitcoin prices follow Federal Reserve interest rates, geopolitical decisions, and global macroeconomic cycles more closely. It’s as if the crypto market has graduated but also lost part of its rebellious identity.

The global context: High rates, inflation, and crypto as an alternative

In 2021, the bull run was fueled by easy money—post-pandemic stimuli, near-zero interest rates, all the liquidity you wanted. Today, we face the opposite: higher rates, persistent inflation, economic slowdown in various regions.

How does this affect cryptocurrencies? Paradoxically, it strengthens them as an alternative. In countries with accelerated monetary devaluation—think Argentina, Turkey, Venezuela—cryptocurrencies have become a tool for protecting real wealth. Bitcoin has stopped being seen only as a “risky speculative asset” and is now viewed as a “possible store of value in turbulent times.”

This narrative shift is crucial. The 2024-2026 bull run grows in a macroeconomic uncertainty context, not monetary euphoria. That makes it more resilient but also more dependent on external factors.

Regulation: From chaos to order (with tradeoffs)

Four years ago, regulation was a secondary issue, almost ignored by most traders. Today, it is central.

The United States, the European Union, the United Kingdom, and several Asian countries have implemented specific regulatory frameworks for crypto assets. Stablecoins, CBDCs (central bank digital currencies), crypto exchanges—everything now has clear rules.

The result: The sector has become more professional. Exchanges now implement KYC (know your customer), combat money laundering, and securely custody funds. It sounds bureaucratic, but it also means investors can sleep more peacefully.

The downside: Small innovative projects struggle to comply. Some have moved to more lenient jurisdictions. Certain services disappeared because regulation was too restrictive.

Overall, the market gained credibility, even if it lost some of its “wild freedom.”

Technology and infrastructure: Blockchain finally works

In previous cycles, using cryptocurrencies was a headache. Slow, expensive transactions, complicated wallets. The average user couldn’t tolerate it.

This bull run benefits from real advances: layer 2 solutions like Arbitrum and Optimism make transactions faster and cheaper. Smart wallets, account abstraction, improved bridges—the user experience is finally comparable to traditional banking apps.

DeFi grew, but now more mature, audited, without catastrophic hacks of the past. On-chain analysis tools, trading platforms that resemble digital banks—all contributed to attracting new user profiles.

And there is a new element: integration with artificial intelligence. There are already AI tokens, solutions using ML for market analysis, and even for auditing smart contracts. The 2024-2026 bull run is not just about crypto—it’s about crypto + AI + traditional finance converging.

The narratives driving this bull run

Each cycle has its stories that propel it. In 2017, it was ICOs. In 2021, DeFi and NFTs dominated conversations. In 2024-2026, the scene is more fragmented.

Now they share prominence:

• AI tokens: Projects related to artificial intelligence capitalize on the global AI wave
• RWA (Real World Assets): Tokenization of real assets—gold, real estate, bonds—on blockchain
• DePIN: Decentralized physical infrastructure, monetizing 5G connections, distributed storage
• Institutional ETFs: The narrative that “crypto is now serious”
• Meme coins and communities: Still relevant, but now sharing space with sophisticated innovations

This multiplicity is wealth but also noise. Separating solid projects from passing fads requires more effort than ever.

Who are the new investors

The profile of crypto participants has changed dramatically.

Before: mainly young men, with technical backgrounds, seeking financial revolution.

Now: women, people over 40, small entrepreneurs, pension funds, governments, tech corporations exploring blockchain. Developing countries—Brazil, Nigeria, India, Turkey—have increasing participation in volumes and adoption.

Mobile-friendly platforms exploded. Digital onboarding simplified. Major tech companies and financial institutions invested in blockchain infrastructure across multiple continents. The movement is genuinely global and multifaceted.

Risk management: The market has learned

Scandals like FTX, Celsius, Terra Luna left scars. But also lessons.

Today, the market is more cautious. Greater emphasis on due diligence, transparency, and self-regulation. Volatility remains, but less dramatic thanks to increased liquidity and institutionalization. Altcoins still explode, but there is growing consensus on the importance of diversification and thorough research before investing.

Security and privacy are on developers’ and users’ radar. Paranoia is healthy, and the current bull run reflects that.

Key factors shaping the rest of the cycle

The future of the 2024-2026 bull run is in motion. Some catalysts to watch:

• AI projects gaining traction: Will they maintain momentum or is it just a fad?
• Expansion of ETFs: To other digital assets beyond Bitcoin?
• CBDCs advancing: Competition or complement to private crypto?
• Emerging markets accelerating adoption: The next trillion dollars will likely come from countries with devaluation or financial exclusion
• Disruptive innovations: There are always surprises—new blockchains, new use cases, new crises

Among the risks: a global economic crisis could slow everything down, overly restrictive regulatory decisions, or unexpected geopolitical events.

The resilience of the crypto ecosystem—having survived long “winters” and reemerged stronger—inspires confidence. But prudence remains necessary.

The bull run you will recognize and not recognize

This 2024-2026 bull run is marked by innovations, but some lessons from the past remain valid: risk of unexpected collapses, importance of critical analysis, need for diversification.

The real difference is that the sector is better prepared. More mature participants, clearer regulation, more robust technology, more professional infrastructure. The ability to learn and adapt is greater than ever.

For those seeking to thrive in this cycle, staying updated, diversifying strategies, and closely monitoring market movements are essential. Continuous learning will be the key differentiator in an ecosystem that never stops evolving.

Cryptocurrency bull runs have always been an emotional and financial roller coaster. This 2024-2026 cycle promises to be just as exciting, but with clearer rules of the game, more professional money at the table, and more genuine opportunities beyond pure speculation.