Since the beginning of this year, the Bitcoin market has looked like a game of numerical shifts—rebounding by 8% and pushing back toward $94,000. But behind the numbers? That’s a narrative turning point.

The rumors of the US potentially establishing a strategic Bitcoin reserve are still fermenting, with spot ETF inflows approaching $700 million in a single day. This is not just about money; it’s a signal that traditional finance is starting to increase its positions here. Look at the whales—within a week, they transferred $2.4 billion worth of assets into exchanges—this could be a sign of selling pressure or large institutions rotating their holdings.

Debates about whether the four-year cycle is truly ending are still ongoing, but Fidelity has introduced a new concept: the super cycle. This idea is worth pondering.

From hard data, Bitcoin has indeed stabilized around $94,000, with a noticeable rebound at the start of the year. The most telling indicator is the changing attitude of institutional funds—continuous net inflows into spot ETFs reflect a straightforward fact: institutional demand is heating up again.

On the macro level, US political developments and policy directions remain influential on market sentiment. Potential strategic reserve policies are enough to sway risk appetite.

Deeper changes suggest that more and more top institutions believe cryptocurrencies are moving beyond a mere speculative cycle. They are no longer just riding a four-year wave but are gradually integrating more deeply with the mainstream financial system. This process has a broader name: the super cycle.

Every fluctuation now could be a footnote in this larger narrative.