There is a saying that has recently become popular: the classic four-year bull and bear cycle may no longer be effective.

The market is changing. It’s not a slow and gradual shift, but a structural transformation. Maturity is increasing, and the level of participants is also evolving.

Looking back at this year, you might find something interesting — the bear market actually started in February. However, during that time, decentralized autonomous trusts and a bunch of Bitcoin-related companies were aggressively buying, which artificially suppressed the downward trend. The power of institutional buying cannot be underestimated.

But the signals are already very clear.

Various data, capital flows, and market sentiment changes are all pointing in the same direction: a true bull run could emerge in 2026. Timing, capital, sentiment, technical cycles... all elements are aligning in an unprecedented way. Such a situation is rare.

Old rules are failing, and a new pattern is forming. At this stage, it may be more necessary than ever to rethink strategies.