Q4 Will Test If ETF‑Led Demand Breaks Bitcoin’s 4‑Year Cycle

I note Bitcoin recently printed a fresh all-time high above $124,000, and that price action sets up a clear test of the asset’s long‑standing four‑year halving cycle.

I think Q4 will decide whether the classic cycle still governs market behavior or whether large, patient inflows from spot ETFs and traditional finance have shifted Bitcoin into a different, less cyclical regime.

I recommend monitoring ETF flows, on‑chain accumulation and futures open interest closely — this environment favors disciplined position sizing and a longer time horizon rather than chasing short‑term blow‑offs.