#比特币对比代币化黄金 $ETH In this round of the Bitcoin market, more and more people are starting to doubt the persuasiveness of the traditional four-year cycle. The halving effect is weakening, and institutional capital strategies are also changing. However, looking at market sentiment—new all-time highs? Many people think it's just a matter of time. The cycle is changing, but the logic of the bull market still seems to be there.