Bitcoin may be transitioning away from its long-standing four-year market cycle as the impact of halving-driven supply shocks weakens, according to analyst Willy Woo. He said Bitcoin has historically been held in the gravitational pull of the four-year cycle, which was dominated by changes in issuance after each halving. Woo said annual new Bitcoin supply has dropped to 0.8% and will soon decline to 0.4%, reducing the strength of Bitcoin’s internal supply dynamics. At the same time, he said traditional financial markets operate on a 6-8 year short-term debt cycle, raising the possibility that Bitcoin is beginning to align with that longer pattern.