Every May 22nd, the cryptocurrency community calls it "Bitcoin Pizza Day", commemorating the historic transaction in 2010 when a programmer bought two pizzas with 10,000 BTC. This seemingly ordinary day actually holds significant meaning in Bitcoin's history. Next, WEEX will take you through a review of Bitcoin's price trends on Pizza Day over the years, which might help you gauge the current market cycle!
Bitcoin Pizza Day Prices and Bull Market Peaks (2010–2024)
The table below lists the prices on Bitcoin Pizza Day (May 22nd) each year in USD, along with the corresponding bull market cycle's highest price and date, calculating the price increase and duration from Pizza Day to that peak. All prices are in USD, with increases calculated as percentages.
Data Source: Bitcoin historical price data from CoinMarketCap and WEEX exchange historical snapshots and other materials. The above increases and durations are calculated based on the above data.
From the table, we can see that Bitcoin has experienced massive price fluctuations on Pizza Day, especially during bull market cycles, with particularly notable price increases.
Insights into Bull Market Rhythm
By analyzing the prices on Pizza Day and the subsequent months' trends, we can try to find the rhythm of the bull market. For example:
2017: The price on May 22nd was around $2,200, reaching nearly $20,000 in December, an increase of over 800%.
2020: The price on May 22nd was around $9,700, reaching about $64,000 in April 2021, an increase of over 560%.
2024: The price on May 22nd is $69,156.88, and based on historical trends, there might still be room for increase in the coming months.
These data suggest that the months following Pizza Day are often key periods for Bitcoin price increases, possibly related to market sentiment, media attention, and investor behavior.
Why is Pizza Day a Bull Market Signal?
On the surface, Pizza Day is just a casual holiday commemorating crypto history, but from historical market trends, we can capture hints of a "collective market rhythm". Looking back at the trends, it's not difficult to see that Pizza Day often occurs in the mid-to-early stages of bull market cycles, rather than at the top, giving it a certain forward-looking significance.
2025 Market Forecast: How Far Can the Bull Market Go?
Entering 2025, Bitcoin has stabilized above $100,000, and the market is again in a debate between "the bull market is a fact" and "has the peak been reached". So, what trends can we read from current macro and on-chain data?
Macro Signal 1: ETF Driving Continuous Long-term Capital Inflow
Since Bitcoin spot ETFs were approved in early 2024, institutions like Grayscale, BlackRock, and Fidelity have continuously purchased BTC. On-chain data shows that ETF-related wallets are absorbing more BTC monthly than newly produced (after halving). This means institutions are gradually moving from "trying allocation" to "long-term allocation". First-quarter 2025 data shows that BlackRock ETF net inflows have exceeded $4 billion.
Macro Signal 2: Federal Reserve Monetary Policy Entering Easing Expectations
According to the FedWatch tool, as of May 2025, the market generally expects the Federal Reserve to begin its first rate cut between mid-to-late year. Historical experience shows that easing policies have a positive correlation with crypto assets, especially the logic of "rate cut - weak dollar - rise in risk assets" has been verified multiple times.
Macro Signal 3: Altcoin Liquidity Active, Main Upward Wave May Not Be Over
In previous bull markets, BTC leading, ETH following, and altcoins exploding was the standard rhythm. On-chain data from May 2025 shows that transaction volumes on L2 ecosystems (like Base, Blast) and Solana have significantly increased. Combined with DeFi's Total Value Locked (TVL) breaking new yearly highs, this suggests the market is still in the "late stage of the main upward wave" rather than at the top.
From a medium to long-term perspective after Pizza Day, if BTC can continue the rhythm similar to 2017 and 2021, its peak might still be 6-9 months away, and it may currently be in the mid-to-late stage of the bull market rather than at its end.
WEEX's Market Insights
As a leading cryptocurrency trading platform, WEEX has always been committed to providing users with in-depth market analysis and data support. By reviewing the historical prices of Bitcoin Pizza Day, we hope to help investors better grasp market rhythm and develop reasonable investment strategies.
Additionally, WEEX offers various trading tools and real-time data to help users make wise decisions in the complex and changing crypto market.
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