Not sure but the market itself, I mean there could be new investors that will come along the way, that will push some crypto to it's all time high. But we all know that majority of crypto are going to be on a bubble this 2025 and it could burst after that.
Meaning we will go on another bear market, and those factors might not satisfy the market again. What I'm saying that I do not think there could be a factor that can be used to gauge as the market is very dynamic.
bear market = lowest low, and there are investors now willing to pour their money.
bull run = everyone is on FOMO
Sooner or later this bubble will burst and even if we have a supportive government policy that Trump will have next year, no one can stop it from bursting and then bear market comes along.
Though your state is not clear about bubble and Burst, but if meant that crypto is a bubble ready to burst, it is a statement that has no bearing on the crypto economy because many people who were critical bout bitcoin speak like this in the past, but they are now ashamed.
As a matter of facts, Bitcoin/altcoins markets is not a bubble/bust schemes, but the market respond to several factors that increases price over times, like demands/supply. Again, a bear market is not a Burst market, but it is part of the market trends outcomes at certain times