10x Research: The four-year Bitcoin cycle hasn't disappeared; it's just that the core driving factor is no longer anchored to the halving event.

In a recent interview, Markus Thielen, Head of Research at 10x Research, stated that the "four-year cycle" of Bitcoin hasn't disappeared; it's just that the core driver is no longer anchored to halving events. The Bitcoin market reached all-time highs in 2013, 2017, and 2021. This year, despite the recent interest rate cuts by the Federal Reserve, Bitcoin hasn't regained its strong upward momentum. This is because institutional investors, while now the dominant force in the crypto market, are making more cautious decisions. With the Fed's policy signals still wavering and overall liquidity tightening, the pace of capital inflows has slowed significantly, weakening the momentum needed for a sustained price breakout. Until liquidity improves significantly, Bitcoin is more likely to maintain range-bound trading and consolidation rather than quickly entering a new parabolic upward trend. (Cointelegraph)