The maturation of the crypto market and increasing institutional involvement have altered the traditional four-year cycle.
High interest rates and low liquidity have dampened speculative activity, but it is expected to shift in the future.
Major price corrections of 30-40% may still occur, but extreme 90% drawdowns might become less frequent as the market matures.
Factors such as the establishment of a Bitcoin strategic reserve, introduction of exchange-traded funds (ETFs), and macroeconomic uncertainties have disrupted traditional market cycles.