Bitwise says Bitcoin’s Q3 rally signals a regime change

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Bitwise argues Bitcoin’s third-quarter rally marks a potential shift from a cyclical, risk-driven asset toward one supported by stronger structural demand. The firm points to institutional participation and improving market conditions as evidence that the rally may reflect more than a short-term rebound. If that regime change persists, Bitcoin could become less dependent on traditional four-year halving cycles, though the claim remains a thesis rather than a confirmed trend.

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