@0xfengqingyang

Bitcoin May Reach a New High in 2026, Four-Year Cycle Theory in Question According to Grayscale’s latest report, Bitcoin’s 32% pullback since early October aligns with historical averages and marks the ninth major correction in this bull cycle. Grayscale suggests Bitcoin may avoid a deep cyclical bear market and could set a new high next year, challenging the traditional four-year cycle theory. This cycle has lacked the parabolic rallies seen in past bull markets. Market structure has shifted, with capital flowing mainly through ETPs and Digital Asset Treasuries (DATs) rather than retail trading. Privacy coins have outperformed, with Zcash up 8%, Monero up 30%, and Decred up 40%. Meanwhile, the first XRP and Dogecoin ETPs have begun trading. Grayscale also notes that the Fed may cut rates again on Dec 10, and U.S. bipartisan progress on crypto legislation could provide further tailwinds. While short-term volatility remains, Grayscale is optimistic about the 2026 outlook and emphasizes the importance of long-term holding.

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