Is Bitcoin Entering a Sustained Uptrend? The Debate Over the 4-Year Cycle and the Influence of Institutional Investors

Matt Hogan, Chief Investment Officer (CIO) of cryptocurrency management firm Bitwise, expressed in a CNBC interview on the 26th that the 4-year cycle of Bitcoin has come to an end, and the cryptocurrency is now entering a decade-long phase of strong returns. With the launch of the Bitcoin spot ETF in January 2024, new dynamics have emerged, and regulatory advancements in the US from January 2025 onwards have accelerated this trend, Hogan noted. He mentioned that the growth of stablecoins and the progress in tokenization have become powerful forces, surpassing the factors that previously drove the 4-year cycle.