Has Bitcoin's 4-year cycle come to an end? Analysts divided over institutionalization

New Huo Group chief economist Fu Peng said Bitcoin’s four-year halving cycle no longer holds, arguing that growing institutional participation has shifted price drivers away from individual large-holder trades toward diversified portfolio allocation and macro liquidity conditions. The view, published in a Foresight News interview, contrasts with the traditional market interpretation that prices repeatedly rise and fall around halving events. It matters because it challenges a framework widely used to time crypto exposure, with the debate now centered on whether institutional flows have permanently altered Bitcoin’s market structure. What to watch next is whether allocation-driven demand from multi-asset managers continues to blunt halving-related volatility.