Bitcoin’s four-year cycle still exists, but the driving factors have changed

Markus Thielen, research director of 10x Research, said that Bitcoin’s four-year cycle still exists, but the main driving factors have changed to political factors, liquidity environment and election cycles.
Bitcoin hit historical peaks in 2013, 2017, and 2021. This year, against the backdrop of the Federal Reserve's interest rate cuts, Bitcoin has not regained its momentum because institutional investors have made more cautious decisions and the pace of capital entry has slowed down. Until liquidity improves, Bitcoin may remain range-bound.