The Influence of Bitcoin Halving Weakens While the Weight of Institutional Investors Increases
According to information from ChainCatcher, Grayscale indicated that the traditional pricing model of Bitcoin — previously heavily driven by halving events — is losing relevance. With the constant increase in the amount of BTC in circulation, each reduction in reward has a proportionally smaller effect. The company highlights that the current market is increasingly driven by large institutional investors, replacing the predominance of retail speculation that marked past cycles.
Unlike the abrupt highs recorded in 2013 and 2017, the recent appreciation of Bitcoin is occurring in a more gradual and controlled manner. Grayscale assesses that the subsequent drop of approximately 30% reflects a common correction within a bull market. Elements such as expectations about interest rates, bipartisan advances in crypto regulation in the US, and the growing presence of Bitcoin in institutional wallets have played a decisive role in the direction of the market.
