![\"Bitcoin](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/11\/BTCUSDT_2025-11-21_09-19-15.png?resize=1024%2C473\")
<\/p>\n","protected":false},"excerpt":{"rendered":"With Bitcoin trading around $85,000, Jeff Park, Partner and CIO at ProCap BTC, used his Nov. 20 conversation with Anthony Pompliano to argue that the drop may be valuable for reasons that have little to do with short-term \u201cdip buying\u201d and everything to do with narrative regime change. His central claim is that the classic halving-anchored rhythm is losing its foundation.<\/p>\n
\u201cThe four year cycle is almost definitively over,\u201d Park said, because what it was \u201cbased off of historically, which is the halving, is just irrelevant from the additional marginal demand that comes from other channels that have opened up.\u201d In his framing, the market is being pulled into a different cadence: \u201clogically and fundamentally the four-year cycle should no longer exist and a new cycle should emerge that is more in sync with institutional risk capital appetite.\u201d<\/p>\n
Park is careful not to treat that as a clean break, because beliefs still move prices. He stressed that a large legacy cohort continues to trade as if the four-year script is real. \u201cThere is still a big group of investors that believe it should exist,\u201d he said, describing them as early adopters with \u201ccharacteristics that almost feel like the occult where they have prophecies.\u201d<\/p>\n
The key, in his view, is their supply control: \u201cthe biggest Bitcoin holders in wallets that are 10,000 [BTC] and plus in size still control a good chunk of the market […] they are still a third of the Bitcoin market.\u201d That concentration makes the cycle potentially reflexive: \u201cif a third of the Bitcoin holders believe the four-year cycle is true and they act like the four-year cycle is true, well then it doesn\u2019t really matter because they\u2019re the price setters […] these things can be self-fulfilling.\u201d<\/p>\n
From there, Park pivots to why weakness into year-end could be constructive. He noted that Bitcoin is now \u201cbelow year to date […] in 2025,\u201d raising the prospect of a red close. In a deliberately sharp line, he joked that if 2025 ends negative, \u201cthat breaks the four-year cycle because now we have a red [yearly candle] and so it\u2019s a three-year cycle.\u201d<\/p>\n
The humor masks a strategic preference: \u201cmaybe we do need this red [candle] right now so we could have the ability to unleash the super cycle for Bitcoin to come without ever having to talk about the four-year cycle again.\u201d<\/p>\n
Park framed a marginally green close as the worst of both worlds. \u201cThe last thing I want honestly is […] an up 5% year to 2025 where we close at like $98K or $99K or $100K and that counts as a green year,\u201d he said, because then \u201cthe next year everyone\u2019s going to talk about […] this is the down year now,\u201d leaving 2026 under the \u201charrowing weight over your head that we\u2019re actually going to have another down year.\u201d<\/p>\n
Pompliano pressed the obvious counter-scenario: \u201cIs there a world where it could just kind of rip right back […] and go to $140,000 or something?\u201d Park didn\u2019t rule it out. \u201cIt\u2019s absolutely possible. Anything can happen,\u201d he replied. But he summarized the trade-off starkly: \u201cwe either have to hope for […] that it either goes up a lot to make the year count or we just try to notch in a small loss here for the year so we can just wipe out the four-year cycle altogether.\u201d<\/p>\n
For Park, Bitcoin at $85,000 is \u201cgood news\u201d only insofar as it increases the odds of breaking a self-reinforcing calendar myth, clearing the way for a market driven less by halving folklore and more by institutional risk cycles.<\/p>\n
At press time, BTC traded at $84,469.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
With Bitcoin trading around $85,000, Jeff Park, Partner and CIO at ProCap BTC, used his Nov. 20 conversation with Anthony Pompliano to argue that the drop may be valuable for reasons that have little to do with short-term \u201cdip buying\u201d and everything to do with narrative regime change. His central claim is that the classic…<\/p>\n","protected":false},"author":1,"featured_media":8461,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[56,55,69,61,120,121],"class_list":["post-8460","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price"],"_links":{"self":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/8460","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/comments?post=8460"}],"version-history":[{"count":0,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/8460\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media\/8461"}],"wp:attachment":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media?parent=8460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/categories?post=8460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/tags?post=8460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}