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Grayscale: Bitcoin Market Structure No Longer Following Four-Year Cycle, Institutional Funds Inflow and Macro Environment Reshaping BTC Price Trends
Summary: According to Cointelegraph, Grayscale has stated that the Bitcoin pricing model driven by halving, which shaped the early history of Bitcoin, is losing its influence. With more Bitcoin entering circulation, the relative impact of each halving is diminishing. Grayscale points out that the current Bitcoin market is more dominated by institutional capital, rather than retail ...
According to Cointelegraph, Grayscale has stated that the Bitcoin pricing model driven by halving, which shaped the early history of Bitcoin, is losing its influence. With more Bitcoin entering circulation, the relative impact of each halving is diminishing. Grayscale points out that the current Bitcoin market is more dominated by institutional capital, rather than retail speculation that dominated past cycles. Unlike the explosive rallies in 2013 and 2017, the recent Bitcoin uptrend is more controlled. Grayscale believes that the subsequent 30% pullback also resembles a typical bull market correction. Interest rate expectations, progress in crypto regulation driven by the US two parties, and the trend of Bitcoin integrating into institutional investment portfolios are increasingly shaping market trends.
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Link: Grayscale: Bitcoin Market Structure No Longer Following Four-Year Cycle, Institutional Funds Inflow and Macro Environment Reshaping BTC Price Trends [Copy]
