Summary
- Binance founder Changpeng Zhao said the Bitcoin 4-year cycle may no longer be valid.
- He hinted at the possibility of entering a supercycle due to expanded institutional investment, saying it is a phase where institutional capital flows have greater influence than traditional cycles.
- The market assessed that the growth of institutional channels such as spot ETFs, ETPs, and corporate treasuries could cause changes in the supply-demand structure, but noted that this view may change depending on external variables.
Binance founder Changpeng Zhao (CZ) said the Bitcoin '4-year cycle' may no longer apply and mentioned the possibility of entering a 'supercycle' as institutional participation expands. A supercycle refers to a phase in which institutional and regulatory capital flows influence the market more strongly than the traditional halving-centered price cycle.
On the 9th (local time), according to cryptocurrency-focused media Bitcoin Magazine, Zhao also said at the 'Bitcoin MENA' event in Abu Dhabi that discussions about country-level Bitcoin (BTC) reserves could spread. He suggested that if U.S. strategic reserve discussions materialize, other countries' responses could follow, and he noted that China would not be free from the trend of building strategic reserves.
Market participants assessed that the remark that the '4-year cycle is weakening' could be interpreted as a signal essentially tied to changes in the supply-demand structure. The logic is that as institutional channels such as spot ETFs, exchange-traded products (ETPs), and corporate treasuries grow, the post-halving retail-driven overheating-and-crash pattern could be mitigated. However, this view can change depending on external variables such as macro liquidity, regulatory changes, and the path of interest rates, so it is premature to draw a definitive conclusion.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
