Grayscale: The Bitcoin market structure no longer follows the "four-year cycle"; institutional capital inflows and the macro environment are reshaping BTC price trends.

GateUser-6433627c · 2025-12-09T02:30:11+00:00

Grayscale stated that the halving-driven Bitcoin pricing model is losing its influence, with the market now dominated by institutional capital and recent price surges remaining controlled. Interest rate expectations, progress in crypto regulation, and institutional investment trends are shaping the Bitcoin market.

GateUser-6433627c

2025-12-09 02:30:11

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On December 9, according to Cointelegraph, Grayscale stated that the Bitcoin pricing model driven by halvings—a pattern that shaped the early history of Bitcoin—is losing its influence. As more Bitcoin enters circulation, the relative impact of each halving is diminishing. Grayscale pointed out that the current Bitcoin market is more dominated by institutional capital, rather than retail speculation which was dominant in previous cycles. Unlike the explosive surges seen in 2013 and 2017, the recent Bitcoin rally has been more controlled. Grayscale believes that the subsequent 30% pullback is also more like a typical bull market correction. Interest rate expectations, progress in crypto regulation driven by bipartisan efforts in the United States, and the trend of Bitcoin being integrated into institutional portfolios are increasingly shaping market movements.

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