傳統的比特幣價格週期正在失去影響

在減半活動之後，傳統的四年比特幣價格週期正在失去整個市場的影響。

The narrative of a four-year Bitcoin price cycle, traditionally observed to follow halving events, is losing its impact across the cryptocurrency market.

傳統上觀察到的四年比特幣價格週期的敘述是在整個加密貨幣市場上失去了影響。

Analyst Ash Crypto highlighted that the historical Bitcoin cycle used to contain four distinct stages: a bear market, followed by an accumulation, then a bull market, and finally, the euphoria phase. However, recent market trends suggest that the Bitcoin price cycle is becoming less predictable, while liquidity factors are emerging as stronger determinants of its price movements.

分析師Ash Crypto強調說，歷史比特幣週期過去包含四個不同的階段：熊市，其次是積累，然後是牛市，最後是欣快階段。但是，最近的市場趨勢表明，比特幣價格週期變得越來越難以預測，而流動性因素正逐漸成為其價格變動的決定因素。

“IS THE 4-YEAR CYCLE DEAD, OR IS IT ALL ABOUT LIQUIDITY?The traditional 4-year crypto cycle tied to Bitcoin (BTC) halvings looks like it is becoming irrelevant.Historically, the cycle included:👉 Bear market👉 Accumulation phase👉 Bull market👉 Euphoria phaseThis Cycle is… pic.twitter.com/xLasJ3cWOp

“ 4年周期是否死了，還是全部與流動性有關？與比特幣（BTC）匹配的傳統4年加密循環看起來無關緊要。從歷史上看，包括：👉熊市👉熊市👉累積相位👉bull bullMarket👉euphoriaphasec.pic.twitter cyc.pic.twitter.com.twitter.com/xlasj3cwop

The cryptocurrency market typically moves following the schedule of halving events, which creates significant market transitions. The bear market transitions to an accumulation phase before the bull market emerges, followed by an extreme growth phase. The anticipated post-halving bull market has failed to materialize yet one year since the Bitcoin halving event occurred. Bitcoin has outpaced other cryptocurrencies because investment flows from different sources.

加密貨幣市場通常會按照減半事件的時間表進行移動，從而產生了重大的市場過渡。在牛市出現之前，熊市市場過渡到累積階段，然後是極端的增長階段。自比特幣減半事件發生以來，預期的鐘錶後牛市未能實現一年。比特幣已經超過了其他加密貨幣，因為投資來自不同來源。

Bitcoin price has increasingly followed the investment trends from institutional stakeholders. Retail investors, who previously drove the demand for altcoins, are now concentrating their attention on Bitcoin, alongside the emerging institutional support for Bitcoin ETFs and increased involvement from institutional investors. Bitcoin shows superior market performance compared to other cryptocurrencies due to a shift in market dynamics.

比特幣價格越來越遵循機構利益相關者的投資趨勢。以前推動過對Altcoins的需求的散戶投資者現在將注意力集中在比特幣上，以及對比特幣ETF的機構支持，並增加了機構投資者的參與。由於市場動態的變化，比特幣與其他加密貨幣相比表現出卓越的市場性能。

Liquidity Drives Bitcoin’s Price Movements

流動性驅動比特幣的價格變動

The movements in Bitcoin’s price are mainly driven by liquidity. Global liquidity has surged to unprecedented levels throughout the first quarter by adding $5.5 billion, which could reach a $12 billion increase for the entire year. Bitcoin functions as the principal asset class in which crypto market participants place their new capital inflow. The market conditions will experience substantial alterations due to this incoming liquidity flow, regardless of traditional cycle patterns.

比特幣價格的機芯主要由流動性驅動。在第一季度，全球流動性飆升至空前的水平，增加了55億美元，全年可能會增加120億美元。比特幣是加密市場參與者將其新資本流入的主要資產類別。由於傳統的周期模式如何，由於這種傳入的流動性流動，市場狀況將經歷重大變化。

The M2 money supply leads Bitcoin price movements by 10–12 weeks, and Bitcoin reacts to rising global liquidity with a strong upward shift. The market data supports the notion that liquidity functions as the primary market influence, rather than being driven by periodic cycles.

M2貨幣供應將比特幣價格轉移到10-12週，而比特幣對全球流動性上升的反應並發生了強烈的向上變化。市場數據支持流動性作為主要市場影響的觀念，而不是由周期性週期驅動。

Current market dynamics indicate a shift away from previous predictable patterns. The upcoming price behavior of Bitcoin is likely to be influenced by global liquidity patterns and institutional funding activity rather than by recurring four-year cycles. The growing liquidity will drive Bitcoin prices upward, thus proving that external factors matter more than halving cycles for market performance.”

當前的市場動態表明從以前的可預測模式轉移。比特幣的即將到來的價格行為可能會受到全球流動性模式和機構資助活動的影響，而不是反復發生的四年周期。不斷增長的流動性將使比特幣價格上升，從而證明外部因素比使市場績效的周期減半更重要。 ”

The post Is The 4-Year Cycle Dead, Or Is It All About Liquidity? appeared first on .

該職位是4年周期死亡，還是全部與流動性有關？首先出現。