The market generally focuses on the Bitcoin halving cycle to predict a bull run, but recently some analysts have proposed a different idea—the next major wave of crypto assets may not truly unfold until 2026.

Why is this the case? The key lies in the subtle shift of driving forces. Historically, every crypto bull market has been driven by two factors: abundant liquidity and an economic expansion period. The halving cycle is indeed important, but it may not be the only engine.

What is the current macro backdrop? The global interest rate hike cycle is nearing its end, and monetary policy is brewing a shift towards easing. If this expectation materializes, by 2026, we might see a stronger, more widespread rally—not just led by Bitcoin, but a broad rally across the entire ecosystem. This rally will be more stable because it is built on improving economic fundamentals.

From a different perspective, instead of fixating solely on the halving schedule, it’s better to pay attention to the Federal Reserve’s movements, changes in employment data, and inflation trends. These macro indicators often provide a more accurate forecast of asset rotation. The market is still oscillating, but smart capital has already begun quietly positioning itself—tokens like ZEC, BCH, and FLOW, which are more cyclical, are waiting for this economic cycle to truly kick in.

In simple terms, the cycle may be delayed, but once the economic fundamentals align upward, this rally could be more intense and longer-lasting than you imagine. Those who are patient often seize the biggest opportunities.

Risk warning: The above is only market analysis and does not constitute investment advice.