Bitcoin's performance has drawn scrutiny as it lags behind both gold and major equity indices, leading to investor skepticism about the current market cycle. In an interview with analyst Benjamin Cowen, he highlighted that while traditional markets are buoyed by expectations of monetary easing, Bitcoin's sensitivity to actual liquidity conditions has hindered its momentum.
Cowen noted that the current sentiment around Bitcoin is marked by apathy, contrasting sharply with past peaks characterized by high levels of enthusiasm and speculation. This shift could significantly impact Bitcoin's trajectory leading into 2026. He also discussed the ongoing debate about Bitcoin's four-year cycle, suggesting that macroeconomic factors, including labor market trends and tight financial conditions, will continue to affect its performance.
Rather than pinpointing specific price targets, Cowen emphasized the importance of understanding market cycles and exercising patience in uncertain liquidity environments. He suggested that expectations for altcoins might be overly optimistic in the current context. For a deeper insight into Cowen's analysis and the macroeconomic landscape influencing Bitcoin, viewers can access the full interview on the Cointelegraph YouTube channel.