Shenyu, also known as DiscusFish, a prominent figure in China’s Bitcoin mining sector and co-founder of Cobo and f2pool, has shared his perspective on the market’s trajectory for 2025. Speaking during a discussion hosted by Wu Shuo and Cobo, he suggested that the crypto market could experience a recovery between June and October.
What’s Next For Bitcoin, Crypto Market?
However, he emphasized that the continuation of the bull market largely depends on whether the proposed U.S. National Bitcoin Reserve is approved. At present, he believes the chances of approval remain high, but if the initiative fails, the bullish momentum may come to an end.
During the event, Shenyu also revisited an incident from the previous year, in which he lost 12,000 ETH due to a phishing attack. He recounted that the attack coincided with an Eigenlayer airdrop, and while dealing with the process, he unknowingly clicked on a malicious link.
One of the largest miners in China, co-founder of Cobo and f2pool @bitfish1 predicted that the market may pick up in June-October this year. If the US National Bitcoin Reserve is not passed, the bull market may be over, but at this moment, the probability of passing is still…
— Wu Blockchain (@WuBlockchain) February 25, 2025
Despite having security measures in place, including domain name risk controls and DNS resolution safeguards, the attack managed to bypass these protections. He acknowledged that errors in handling a hardware wallet, including blind signing without thorough verification, contributed to the breach.
Shenyu highlighted that the situation revealed more profound security concerns, particularly with multi-signature setups, where transactions were often executed without sufficient scrutiny. He warned that the crypto industry must remain vigilant against threats posed by state-level actors, corporate infiltration, and human error. He stressed that strong security protocols and the involvement of independent third parties in risk management are essential to counter such sophisticated attacks.
Looking ahead, Shenyu reiterated that the influx of new capital into the crypto market will largely depend on developments related to the U.S. National Bitcoin Reserve. The outcome of this proposal will likely play a crucial role in shaping market sentiment in the latter half of the year.
Also Read: Bitcoin Boom or Bust? Market Hinges on U.S. Reserve Decision
