Bitcoin Cycle Shifts as Institutions Build Positions and Volatility Falls
The four-year cycle is mutating. Volatility is compressing, returns are shrinking, and the old playbook no longer fits. But behind the surface, institutions are building positions through ETFs, equity, and preferred stock. Meanwhile, on-chain LTH supply is rising again, and shorts remain under pressure. Summary The four-year halving cycle is mutating. Measured from the April…
