Bitwise CIO: Bitcoin's traditional four-year cycle has ended, and the market is entering a new phase driven by macroeconomic factors

BlockBeats News, February 1st, Bitwise Chief Investment Officer Matt Hougan stated in a letter to clients that Bitcoin's traditional four-year cycle may have come to an end.

Matt Hougan believes that with the influx of institutional investors and the maturing market structure, Bitcoin's price volatility and periodicity will become more stable, no longer driven significantly by halving events. The Bitcoin market is entering a new phase dominated by macroeconomic factors and long-term investment strategies. With the development of the crypto market, traditional market cycles may no longer apply, marking a shift towards broader institutional integration and sustained investor interest.