An analysis has emerged stating that the current BTC cycle is showing a different trend from the past. According to Cointelegraph, Pierre Rochard of Bitcoin Bond Company, a BTC asset management firm, stated, "In the bear markets of 2015, 2018, and 2022, BTC plummeted by 77-85%, but this correction has been relatively limited. This is because the cumulative net inflow into US spot ETFs has exceeded $59 billion, and corporate accumulation of BTC by companies like Strategy continues." Additionally, some analysts have identified factors such as Nasdaq's new highs, the vote on the US Clarity Act, and discussions about strategic BTC reserves as drivers of market structure change.
