Grayscale predicts Bitcoin will reach a new high in 2026, refuting the four-year cycle theory.

Odaily Planet Daily reports that Grayscale Research predicts in its latest report that Bitcoin will reach a new all-time high in 2026, refuting the widely circulated "four-year cycle" theory. The report points out that the current market structure has changed, with institutional funds primarily concentrated in ETFs and digital asset libraries rather than retail exchanges. BitMine CEO Tom Lee holds a similar view, predicting Bitcoin will reach a new high in January next year. Analysts believe the macroeconomic environment is relatively favorable, with potential interest rate cuts and bipartisan crypto legislation in the US providing support to the market. Although Bitcoin has experienced a 32% pullback since early October, Grayscale states that a retracement of over 25% is normal in a bull market and does not necessarily indicate the start of a long-term downtrend. (The Block)