The issue with current bitcoin market IMO: it went into bull market too early. Normally, halvings (every 210,000 blocks) are in accumulation phase, but 2024 halving (block 840,000) is in bull market phase. So we have been front-running, but the market was not ready to go up yet. 
Discussion
I feel like this front running trend will continue more dramatically in future cycles, as people see bitcoin fall 70% in the future, they’ll be more willing to front run the next wave of institutional FOMO, buying up small amounts, little by little
Plz keep cheap sats