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Why Bitcoin May Ignore the 4-Year Cycle in 2025, According to Grayscale

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Key takeaways

  • 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 more by institutional capital than the retail speculation that defined earlier cycles.

  • Unlike the explosive rallies of 2013 and 2017, Bitcoin’s recent price rise has been more controlled. Grayscale notes that the subsequent 30% drop resembles a typical bull-market correction.

  • Interest-rate expectations,…

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