Odaily News CryptoQuant posted on the X platform: "In order to predict the peak of the bull market, the influx of small whales and ordinary investors is more important than big whales. The figure below shows the realized market capitalization of Bitcoin in the range of 10 to 100, representing the expected capital inflow from small whales and retail investors. The figure below shows that there is a steady rise in the early stage of the upward cycle, but a sharp rise from the middle to late stage. The cycle ends after the strong rise of Bitcoin. Since 2024, the inflow rate of small whales and ordinary investors has begun to increase rapidly. The second half of the bull market has just begun, and the possibility of seeing additional capital inflows and strong rises in Bitcoin in the future is open."