The traditional Bitcoin 4-year cycle narrative is fading into history. What's emerging instead is a decade-long institutional-driven uptrend that effectively kicked off in 2024. This shift reflects the growing influence of major players reshaping market dynamics from the ground up.

According to Bitwise's leadership—managing $15 billion in assets—this structural change represents a fundamental departure from the volatility-prone patterns we've observed for years. Rather than boom-bust swings, expect a measured, grinding appreciation driven by sustained institutional capital inflows and increasing mainstream adoption.

For market participants, this implies next year and beyond should see upside momentum as this longer-term thesis plays out. The question isn't whether gains will materialize, but how the market adjusts to this new rhythm of growth.