CoinDesk Podcast Network How Institutional Inflows are Breaking the Bitcoin Four Year Cycle
Feb 24, 2026
Fakhul Miah, Managing Director at GoMining Institutional, a specialist in institutional custody and mining economics. He discusses how huge ETF inflows and institutional accumulation are muting volatility. He explores whether Bitcoin’s four-year cycle is changing. He outlines a 2026 mining shakeout favoring low-cost, infrastructure-grade operators.
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Bitcoin Becoming A Macro Reserve Asset
- Bitcoin is evolving into a mature macro reserve asset as institutions, state actors, and pension funds add it to balance sheets.
- Fakhul Miah says institutional accumulation creates a liquidity base that reduces retail-driven drawdowns and overall volatility.
Four Year Cycle Growing Disjointed
- The traditional four-year Bitcoin cycle is intact but becoming disjointed due to heavy institutional flows.
- Fakhul Miah attributes reduced volatility to institutional capital and rising mining difficulty tightening the market.
ETF Flows Outpaced New Bitcoin Issuance
- Bitcoin ETF inflows massively outpaced new issuance, amplifying demand and tightening supply dynamics.
- Fakhul Miah notes ETF inflows averaged three times higher than newly issued bitcoin after the halving, accelerating capital entry.