PANews reported on July 4th that crypto analyst Rekt Capital stated in a video that if Bitcoin follows the trend of 2020, the market is likely to peak in October, which is 550 days after Bitcoin's halving in April 2024. Rekt believes that many market participants are overlooking the halving cycle and predicting that the "cycle extension" may continue until 2026. These participants are setting aside halving cycle indicators to "chase new narratives," such as Bitcoin's correlation with global M2 money supply. However, Rekt Capital says that chasing new Bitcoin indicators is "an emotional behavior." Nevertheless, some cryptocurrency analysts believe that given the surge in institutional adoption of Bitcoin, the typical Bitcoin halving cycle is now less reliable than in previous cycles.
