Bitcoin (BTC), the largest cryptocurrency, will not necessary repeat its previous performance in this market cycle. Now, Bitcoin (BTC) morphed into a global macro asset and most likely will perform more like a "canary in coal mine" for macro moves, than like the rest of cryptocurrencies, seasoned analyst Willy Woo says.
Bitcoin (BTC) becomes macro asset, Willy Woo explains what it means for BTC cycles
Bitcoin (BTC) is transitioning and cementing its status as "global macro asset" this year, top trader, investor and analyst Willy Woo shared with his 1.2 million followers on X. As such, it becomes less exposed to the factors that used to shape it previously.
BTC is global macro this cycle. Which means don't necessarily bet on nicely manicured 4 year cycles. BTC is transitioning.Internal forces, the halvening, is getting weak, global liquidity powers BTC - hence BTC is becoming the canary in the coal mine for global macro moves. https://t.co/c56yYmn0Na
— Willy Woo (@woonomic) May 28, 2025
Namely, Bitcoin (BTC) becomes less dependable on internal factors and monetary triggers like halvenings (halvings) — periodical cuts of rewards for miners per every block.
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As covered by U.Today previously, the last Bitcoin (BTC) halving, in April 2024, reduced its issuance by 50% to 3.125 BTC per block. Next, the fifth halving event is expected to happen in Q1, 2028. Halvings are designed to make BTC scarcer and protect it from inflation.
Instead, Woo points out, Bitcoin (BTC) is now powered by global liquidity, just like any other macro assets. BTC price fluctuations should now be attributed to these factors.
Affected by global trends — but still more volatile due to the smaller marker cap — Bitcoin (BTC) now acts as a "canary in the coal mine" for various events of macro instability.
BTC high in late Q4, 2025?
That being said, we should not expect this cycle to be mirroring previous patterns in terms of price performance. While in every previous cycle, BTC reached a bullish phase peak in late Q4 of the post-halving year, this time things might be different.
As Willy Woo previously explained, Bitcoin (BTC) became the first new macro asset in 150 years. It is also the fastest gainer in the category as it took only 16 years for BTC to join this elite league.
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Bitcoin (BTC) managed to make it to the rating of global macro assets because of its decentralization and decent SoV features.
