The crypto market's famous four-year cycle might not be as inevitable as many believe. According to insights from Grayscale's research leadership, it's not a fixed clock governing digital assets—rather, macro economic forces are what truly move the needle. When you look at how traditional finance cycles, geopolitical shifts, and monetary policy reshape investor behavior, you start seeing why crypto markets respond to broader conditions. The cycle narrative makes for easy storytelling, but the real driver? It's the macroeconomic landscape, constantly shifting underneath.