Ben Cowen: Bitcoin Just Changed the Entire Setup | with Kris Bullock

Bitcoin’s recent breakout above the May high signals a shift in market momentum, effectively placing the burden of proof on bears. Unlike previous cycles, this price action is driven by significant institutional ETF inflows rather than retail FOMO, allowing Bitcoin to remain resilient despite a strong dollar and rising interest rates. While the four-year cycle framework remains a primary analytical tool, the occurrence of the cycle low in July was historically early, challenging previous expectations. Current monetary policy, characterized by more accommodative conditions relative to the two-year yield, provides a tailwind for the asset. Although potential corrections in the broader stock market could impact Bitcoin, the current trend suggests a move away from the necessity of lower lows, pointing toward a potential shift in the broader market narrative.