• Bitcoin’s bull market remains strong but risks a correction below the $100K level.
• Institutional investors provide steady support, reducing volatility and short-term speculation.
• Market cycles evolve beyond halving events, driven by macroeconomic trends and long-term accumulation.

Bitcoin — BTC, continues to show strength despite recent price swings that have kept traders on edge. The market remains optimistic, but analysts warn that a drop below the $100,000 mark could test investor confidence. Alex Thorn, Head of Research at Galaxy Digital, believes the trend remains strong overall, though risks are emerging. He suggests Bitcoin’s current behavior reflects wider macroeconomic conditions rather than internal weaknesses in the asset.

Bitcoin’s Bull Market: Strong but Vulnerable

Alex Thorn described Bitcoin’s structure as solid but cautioned that sentiment can shift quickly. A sudden break below $100,000 could unsettle traders and spark broader anxiety. He emphasized that the recent pullback did not stem from Bitcoin’s fundamentals. Instead, global factors such as interest rate expectations and market liquidity have influenced price movements.

According to Thorn, Bitcoin now behaves more like a macro asset than a speculative digital token. Investors are responding to economic signals rather than on-chain data or halving cycles. This shift highlights Bitcoin’s maturity and closer alignment with global financial trends. Thorn pointed out that Bitcoin’s resilience comes from growing institutional participation.

The presence of large investors provides a base of steady demand that cushions short-term volatility. While retail traders remain active, institutional players now set much of the market’s tone. They approach accumulation with patience, reducing the frequency of sharp price corrections.

Even with the risk of short-term dips, the broader outlook stays optimistic. A solid support zone around $100,000 continues to attract buyers, suggesting confidence remains intact. If Bitcoin manages to hold this level, it may set the stage for another leg higher.

The Post-100K Market: Institutional Demand Reshapes the Cycle

Thorn believes Bitcoin has entered a new “post-100K era,” marking a more mature phase. Institutional demand now plays a key role in shaping price behavior. The influx of long-term investors has slowed accumulation but also reduced realized volatility. This development reflects a healthier and more stable market environment.

He also challenged the traditional belief in Bitcoin’s four-year cycle, often linked to halving events. In his view, the pattern no longer defines market direction. The presence of large-scale holders has softened the dramatic peaks and valleys of earlier years. The market now looks different, emphasizing sustained growth rather than explosive rallies.

As institutional ownership grows, volatility should continue to ease. Long-term investors typically avoid emotional reactions, which helps stabilize the price. This shift signals a more controlled and predictable market phase. For now, Bitcoin’s bull market remains strong, though challenges lie ahead. The $100,000 level has become a key line of defense for traders and investors alike.

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