ARK Invest CEO Cathie Wood shared an interesting observation: the famous 4-year cycle narrative in crypto markets may no longer be valid.

According to Wood, Bitcoin used to experience sharp declines of 75-90% after each cycle. But it seems those days are behind us. As the market matures, these dramatic levels of volatility are decreasing.

This actually makes sense—as institutional investors enter the space, spot ETFs get approved, and regulations become clearer, Bitcoin’s price movements are also becoming more predictable.

Of course, this “cycle breakdown” might be disappointing for some, but it’s a positive sign in terms of long-term adoption.