The traditional four-year Bitcoin halving cycle, once a cornerstone for market participants, is losing its predictive power as institutional forces reshape the cryptocurrency landscape. Historically, Bitcoin's price surged following halving events, with significant gains observed in 2012, 2016, and 2020. However, by late 2025, major players like Bitwise and Grayscale suggested that 2026 might break this pattern, emphasizing a shift towards an institutional era. This transition is marked by the growing influence of macroeconomic policies and the introduction of Bitcoin exchange-traded products (ETPs), which have altered demand dynamics. The Federal Reserve's interest rate adjustments and China's liquidity measures are now pivotal in shaping market conditions. Additionally, the role of derivatives in risk management has become more pronounced, further complicating the traditional cycle narrative. As the market integrates more closely with traditional financial systems, the halving's impact is now one of many factors influencing Bitcoin's price movements.