TechFlow news, December 2: According to The Block, Grayscale Research predicted in a recent report that Bitcoin will reach a new all-time high by 2026, refuting the widely circulated "four-year cycle" theory. The report noted that the current market structure has changed, with institutional funds primarily focused on ETFs and digital asset trusts rather than retail exchanges. Tom Lee, CEO of BitMine, shares a similar view, expecting Bitcoin to hit a new high in January next year. Analysts believe the macro environment is relatively favorable, with potential rate cuts and bipartisan-supported crypto legislation in the U.S. providing market support. Although Bitcoin has seen a 32% pullback since early October, Grayscale stated that drawdowns of over 25% are normal during bull markets and do not signal the beginning of a long-term downtrend.
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