- Pierre Rochard claims Bitcoin’s four-year cycles have ended, citing changes in market structure and diminishing halving impact on price movement.
- Max Keiser warns of a sharp BTC correction due to leveraged derivatives, drawing parallels to the 2021 $10 billion liquidation event.
- Bitcoin trades at $120,726 after recent volatility, with Michael Saylor’s strategy adding 155 BTC to its $75.7 billion holdings.
Bitcoin’s market structure is facing renewed debate after BTC advocate Pierre Rochard suggested that the cryptocurrency’s traditional four-year cycles are no longer relevant. Rochard, a known maximalist, pointed out that with 95 percent of Bitcoin already mined, the halving events now have a minimal effect on trading volume.
He emphasized that most of the demand today comes from retail spot buyers, exchange-traded products being integrated into wealth management platforms, and corporate treasury purchases. He noted that the selling by early Bitcoin holders now fuels a large part of market inflows. Rochard’s remarks signal a shift in how Bitcoin price movements may evolve in the future.
Keiser Warns of Leverage-Driven Correction
Responding to the discussion, Max Keiser, currently serving as Bitcoin advisor to El Salvador’s president Nayib Bukele, forecast a significant price correction. He warned that the trigger could be the market for leveraged Bitcoin derivatives, which often amplifies volatility. Keiser referenced the 2021 market event when $10 billion in leveraged positions were liquidated in one week, leading to a steep price decline.
Commenters on X, including Sergio Bermudez, agreed with Keiser’s assessment, noting similarities to past market sell-offs. The 2021 wipeout remains one of the largest rapid liquidations in Bitcoin’s history, underscoring the potential risks of over-leveraged markets.
Bitcoin Holds Above $120,000 Despite Volatility
Bitcoin is currently trading at $120,726 after recovering nearly 1% in the last 24 hours. The price had dipped 2.21% on Sunday, falling from $122,300 to $119,590. Despite the recent pullback, the asset remains significantly above earlier yearly levels.
Meanwhile, corporate accumulation continues. Michael Saylor’s company, Strategy, announced the purchase of 155 additional Bitcoins for approximately $18 million. This latest acquisition brings its total holdings to 628,946 BTC, bought for $46.09 billion at an average price of $73,288. The current valuation of Strategy’s Bitcoin is estimated at $75.74 billion.
