Bitcoin in Very Early Innings of Structural Bull Run As BTC Showing No Signs of Distribution, Says Lyn Alden

Macroeconomics guru Lyn Alden believes that the ongoing Bitcoin bull market is still intact as long-term holders refuse to sell even after BTC’s year-long rally.

In a new interview on crypto influencer Natalie Brunell’s YouTube channel, Alden says that BTC is in the very early stages of its structural bull run.

The macro guru highlights that she’s still not seeing signs that long-term BTC holders are selling their coins even though Bitcoin is up about 160% in the last 12 months.

“So far, we’ve not really seen any sign of distribution. So when Bitcoin goes through major bull runs, normally some of those older holders start to sell into that market strength. Maybe they want to rebalance, maybe they want to consume… so you see some of that distribution as new buyers come in and that process hasn’t even started yet based on any sort of on-chain analysis you look at.

I still think we’re very early in this structural bull run, but I do think it’s important not to take a bull run for granted. It’s not necessarily owed to you just because the halving is happening or just because it’s on that cycle. I think it’s probably still likely over the next two years but it is important to manage your expectations and risk accordingly.”

Earlier this month, Alden said Bitcoin’s cycles are correlated to global liquidity and that BTC could rally to as high as $200,000 before the end of 2025.

At time of writing, Bitcoin is worth $43,010.