Has the curse of the 4-year cycle in the cryptocurrency circle been broken? The logic of the bull market in 2024 has been completely changed
Obvious abnormalities in this round of bull market
In fact, this round is incomprehensible, including "no mutual takeover", "almost no sector rotation", and Meme flying all the way. This is because the substantial participation of institutional capital has changed the grassroots gameplay of the past crypto industry. The influence of capital is getting bigger and bigger. With the listing of Bitcoin spot ETF, capital has accelerated inflow, which makes the old leeks a little uncomfortable and at a loss for a while. It is better to play a fairer Meme by yourself than to expect the takeover institution to lead the project. In addition, institutional funds are more rational and prefer Bitcoin and new narratives such as AI and DePIN, which has led to the old narratives and old projects that no one has paid attention to becoming unpopular.
This year is another four-year cycle of the crypto market, and Bitcoin has been reduced by half a year. People who are used to "carving a boat to seek a sword" do not seem to be very happy. Some people may be in a loss state and find that this round of bull market is obviously "not in line with expectations"
On the one hand, with the massive participation of emerging institutional capital and ETFs, and the background of retail investors withdrawing from whales, the industry structure has quietly changed.
The external environment, such as the Fed's decision, has also begun to affect BTC's performance. In the past, the internal driving force of each bull market came from the continuous emergence of new narratives, such as GameFi and the metaverse wave.
The problem now is that according to the current situation in the United States, if interest rates start to be cut first, then everyone will be fine and the market will continue to dance.
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