This cycle is playing out a bit differently.



As everyone knows, BTC has always followed the "4-year halving, 4-year cycle" playbook: after the halving, the bull market starts, peaks and pulls back, then enters a long bear market, and the cycle repeats. This pattern worked flawlessly from 2013 to 2021.

But this time? The macro environment has changed, institutions are entering in new ways, and the influx of funds from ETFs is a whole different game. Can the traditional cycle model still be applied? Or has the market matured enough to break free from the constraints of the "halving narrative"?

Some believe the cycle still exists, just stretched out; others think that as the market grows and participant structure changes, this 4-year rhythm will gradually fail.

What do you think? Could this be the turning point for cycle theory?
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SatsStackingvip
· 6h ago
The cycle has broken, but it's mainly because institutional entry strategies have changed, not because Bitcoin itself has changed.
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TheShibaWhisperervip
· 12-05 20:55
The cycle is just a facade; institutions have been secretly accumulating chips for a while now.
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ChainMelonWatchervip
· 12-05 06:50
To be honest, the cycle has already changed. After institutions came in, they no longer follow the old playbook at all.
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NeverPresentvip
· 12-05 06:44
Cycle theory should have gone bankrupt long ago; once institutions enter the market, all patterns have to change.
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LiquidityNinjavip
· 12-05 06:42
The cycle theory should have been debunked long ago; things are different now that institutions have entered the space.
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FUD_Whisperervip
· 12-05 06:39
To be honest, this 4-year cycle theory really needs to be revised. Institutions entering the market don’t follow the retail investors’ script at all—the ETF wave has completely changed the rules of the game.
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retroactive_airdropvip
· 12-05 06:32
Cycles never died; they just took on a different form.
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