Carl the Moon's Take on Crypto's Current Bear Market Phase

Crypto influencer and entrepreneur Carl Runefelt, known online as “Carl the Moon,” recently shared his perspective on why the cryptocurrency market has entered a bearish phase. His assessment focuses on a surprisingly simple but revealing metric: the average view count on crypto-related YouTube videos, which has declined significantly compared to previous bull market cycles.

“In a bull market like 2021, the engagement on my channel and others was extraordinary,” Runefelt explains during a conversation in his Dubai apartment. Back then, his videos regularly pulled between 100,000 and 200,000 views each. However, the landscape has shifted dramatically. Today, as Bitcoin trades lower at $72.82K and market sentiment remains subdued, Runefelt’s content typically attracts 15,000 to 20,000 views per video—a stark contrast to the stratospheric numbers of previous cycles.

YouTube Engagement as a Market Barometer

The decline in video views reflects deeper market dynamics, according to the Swedish-born entrepreneur. “There’s minimal hype currently. The market is slowing down considerably, and altcoins are in a persistent downtrend,” he observes. Runefelt suggests that industry observers should monitor YouTube view metrics closely, as spikes would signal the emergence of “altseason”—the phase when retail investors typically re-enter the market.

This indicator joins other commonly tracked metrics like Google Trends searches for the term “crypto” in assessing whether retail participation has returned to the space.

From Grocery Store Worker to Content Creator Sensation

Carl the Moon’s current influence wasn’t built overnight. Just over seven years ago, in November 2018, Runefelt was finishing up a grocery store job in Switzerland while simultaneously launching his crypto content journey. His first cryptocurrency video appeared in December 2017, marking the beginning of what would become a prolific content career.

Since then, he has produced over 1,500 videos across multiple channels, accumulating more than 82 million views on his primary channel alone. Beyond solo work, Runefelt co-hosts “The Moon Show”—a daily program with 18-year-old crypto influencer Crypto Kid—which boasts 657,000 subscribers. His influence extends to X (formerly Twitter), where he commands 1.5 million followers.

Despite the scale of his achievements, Runefelt emphasizes that the path to substantial earnings wasn’t necessarily lengthy. “I’d estimate it took roughly one and a half to two years maximum to reach my first million dollars,” he reveals. “After that, the bull market accelerated everything exponentially.”

Multiple Revenue Streams in Crypto Content Creation

The path to generating significant income through crypto content involves more channels than many realize. Affiliate links to cryptocurrency exchanges represent a primary revenue source. When viewers sign up through a creator’s referral link, the creator typically receives a commission from every trade executed on that account—sometimes indefinitely. Beyond affiliate arrangements, income flows from brand sponsorships with major crypto companies and direct YouTube monetization.

Carl the Moon’s business ecosystem extends further through his company, The Moon Group, which operates several branches. Moon Ventures invests across various crypto projects, while his content coaching agency provides mentorship to aspiring creators like Crypto Kid. Additionally, Runefelt serves as an adviser and investor for CryptoJobs.com, a job board serving the crypto industry.

The Opportunity Window During Bear Markets

When asked whether newcomers can still replicate his success using similar content strategies, Runefelt’s answer is encouraging: yes. He points to numerous under-explored niches within crypto that remain ripe for content creation. His guidance involves building consistency until daily video views reach approximately 5,000—at which point monetization can accelerate surprisingly quickly.

Interestingly, Runefelt believes bear markets offer strategic advantages for new creators. “You’re essentially planting seeds during the bear market to harvest rewards when the bull market arrives,” he explains. “The key is maintaining your commitment until genuine altseason materializes, when views potentially multiply tenfold. That’s when the significant earnings opportunities emerge.”

Celebrity Status and Unexpected Business Opportunities

The public recognition associated with being a prominent crypto figure presents both advantages and challenges for Carl the Moon. He reports being recognized “two or three times daily,” with most interactions involving selfie requests and positive feedback. Occasionally, however, strangers attempt to pitch business proposals.

Remarkably, one street encounter led to a meaningful professional relationship: Crypto Kid, his current co-host, approached Runefelt on the street seeking to collaborate and learn from him. This chance meeting evolved into a coaching relationship that led to Crypto Kid becoming a host on The Moon Show. However, Runefelt emphasizes this remains an exception rather than the rule, suggesting that unexpected street pitches rarely materialize into actual business partnerships.

Balancing Fame, Music, and Crypto

Runefelt maintains an ambivalent relationship with his celebrity status in crypto. While acknowledging that remaining anonymous might be preferable, he recognizes that his wealth accumulation directly resulted from high visibility. “I wouldn’t have generated the income I’ve earned without this public presence. So I have no regrets,” he says.

Notably, music represents a deeper passion for Runefelt than cryptocurrency. “Music comes from something deeper within. I genuinely love creating music, writing songs, and performing,” he shares. This passion connects to his long-term vision: retiring completely from crypto by 2030 to pursue music production and professional Ferrari racing.

The Weekly Reality of Content Production

Many assume that successful YouTubers simply upload quick daily clips for passive income. The reality differs substantially. Runefelt operates a structured Monday-through-Friday content production schedule, supported by a dedicated office and full-time production team. Content creation consumes most of his weekly workload before accounting for his various business ventures and advisory roles.

Carl the Moon’s Market Outlook and Bitcoin Price Predictions

Regarding 2026’s market trajectory, Runefelt expresses uncertainty. “I’m genuinely split—either we’ll experience significant growth or essentially nothing happens. I’m quite confused about 2026,” he admits. However, his longer-term conviction remains firm: “Before 2030, I’m confident we’ll witness Bitcoin reaching between $500,000 and $1,000,000 per coin.”

This prediction aligns with his accumulation strategy. Rather than attempting to time 2026’s market movements, Runefelt advocates buying Bitcoin regardless of near-term performance, allowing positions to compound until 2030 when he anticipates substantial returns. “I should be accumulating Bitcoin regardless of what happens in 2026, then celebrate with champagne in 2030,” he concludes.