Bitcoin Four-Year Cycle Losing Relevance, Institutional Flows Take Over

Michael Saylor, Executive Chairman of Strategy Inc., has stated that Bitcoin's four-year cycle is losing dominance as the crypto asset becomes increasingly embedded in global finance. He believes halving-driven narratives are giving way to institutional capital flows that now shape demand and price direction.

Saylor argues that halvings no longer fully explain Bitcoin's market behavior, and that institutional flows are replacing retail cycles as the main driver of adoption. This shift is driven by key growth channels such as ETFs, corporate treasuries, sovereign reserves, and credit markets.

The Strategy executive chairman emphasized that 'The four-year cycle is no longer the dominant model' in an essay posted on X. He pointed to institutional demand, ETF inflows, corporate treasury accumulation, and global liquidity conditions as influencing price behavior.