#比特币四年周期将改变？

In recent years, the entry of institutional investors (such as asset management companies and listed companies) and ETFs has changed the market structure. They tend to hold for the long term, which may weaken short-term volatility after halving but strengthen the logic of long-term value storage.

Global liquidity environment: Bitcoin is gradually being included in macro asset allocation, and its price is increasingly influenced by Federal Reserve policies, inflation expectations, and other factors. If the global economic cycle misaligns with the halving timing, it may break the original four-year pattern.