Why Grayscale thinks Bitcoin will ignore the 4-year cycle this time
Grayscale argues Bitcoin’s market structure has evolved beyond the old four-year rhythm. Institutional flows and macro dynamics have reshaped BTC’s price behavior. The halving-driven Bitcoin pricing pattern that shaped Bitcoin’s early history is losing power. As more BTC enters circulation, each halving has a smaller relative impact. According to Grayscale, today’s Bitcoin market is shaped…