Experts note that top-tier investors are accumulating Bitcoin at high prices with a long-term view, shifting Bitcoin’s role from a speculative asset to a financial instrument integrated into traditional markets.

Institutional demand, including from corporate treasuries and nation-states, has increased significantly, creating sustained buying pressure that alters the typical supply shock associated with halving events.

Bitcoin's price movements are increasingly influenced by macroeconomic factors such as global liquidity, central bank policies, inflation, and USD strength, aligning its behavior more with traditional assets like gold.

Recent market activity is driven by institutional investors and large entities making long-term holdings, which has led to pre-halving price peaks rather than retail speculation.

Bitcoin has evolved from a retail-driven, supply-shock-based asset into a mature, macroeconomic asset, with its future largely influenced by global economic conditions rather than halving events.

While the four-year cycle's importance has diminished, some experts believe it still exists but is now overshadowed by macroeconomic trends and institutional activity.

The halving no longer acts as a surprise catalyst; markets now price in this information in advance, reducing the cycle's predictability and associated volatility.

Bitcoin's traditional four-year cycle, closely linked to halving events, is no longer a reliable predictor of price movements, as evidenced by the 2024 halving when Bitcoin surged before the event.