{"id":75884,"date":"2026-07-24T22:35:35","date_gmt":"2026-07-24T22:35:35","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/grayscale-says-fed-policy-could-decide-if-bitcoin-bear-market-ends-now-or-runs-to-october\/"},"modified":"2026-07-24T22:35:35","modified_gmt":"2026-07-24T22:35:35","slug":"grayscale-says-fed-policy-could-decide-if-bitcoin-bear-market-ends-now-or-runs-to-october","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/grayscale-says-fed-policy-could-decide-if-bitcoin-bear-market-ends-now-or-runs-to-october\/","title":{"rendered":"Grayscale Says Fed Policy Could Decide if Bitcoin Bear Market Ends Now or Runs to October"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Grayscale says bitcoin may stay weak until September or October if its 4-year cycle repeats.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Bitcoin\u2019s historic 80% bear-market losses may matter less as Fed policy drives institutional demand.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Grayscale sees a bottom forming if the Fed avoids hikes and U.S. growth holds through 2026.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Zach Pandl Says Bitcoin May Have Bottomed if the Fed Avoids Another Rate Increase<\/h2>\n<p>Bitcoin\u2019s bear market may be closer to its end than historic trading patterns suggest, <a href=\"https:\/\/www.grayscale.com\/the-stack\/bitcoin-four-year-cycle-or-macro-asset\" target=\"_blank\" rel=\"noopener noreferrer\">according to Grayscale<\/a>, which argues that macroeconomic conditions are becoming more important than the cryptocurrency\u2019s traditional four-year cycle.<\/p>\n<p>Zach Pandl, Grayscale\u2019s head of research, outlined two competing views on when the downturn could bottom. The first treats bitcoin\u2019s halving schedule as the primary driver of its boom-and-bust pattern.<\/p>\n<p>Previous bear markets have generally reached their lowest point about one year after a cycle peak and roughly two and a half years after a halving. Those downturns produced average losses of nearly 80%, Grayscale said.<\/p>\n<p>Under that framework, bitcoin may have further to fall before reaching a bottom in September or October.<\/p>\n<h2>Historic Cycle Points to Further Weakness<\/h2>\n<p>Supporters of the four-year model expect supply reductions from bitcoin halvings to drive repeated periods of expansion and contraction.<\/p>\n<p>That view assumes the current decline will broadly follow earlier cycles. A similar outcome would expose the market to lower prices before a sustained recovery begins.<\/p>\n<p>\u201cThe four-year cycle view predicts lower lows for bitcoin\u2019s price,\u201d Pandl said.<\/p>\n<p>Still, relying on past cycles has become more difficult as bitcoin\u2019s investor base and market structure have evolved. Institutional funds, listed investment products and changing monetary conditions now play a larger role in determining demand. Grayscale believes those developments may have weakened the influence of the halving cycle.<\/p>\n<figure id=\"attachment_833639\" aria-describedby=\"caption-attachment-833639\" style=\"width:1280px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/07\/grayscale-says-fed-policy-could-decide-if-bitcoin-bear-market-ends-now-or-runs-to-october-1.png?X-Amz-Content-Sha256=UNSIGNED-PAYLOAD&amp;X-Amz-Algorithm=AWS4-HMAC-SHA256&amp;X-Amz-Credential=AKIARQKIT2TMGZBKV2L6%2F20260724%2Fus-east-1%2Fs3%2Faws4_request&amp;X-Amz-Date=20260724T103044Z&amp;X-Amz-SignedHeaders=host&amp;X-Amz-Expires=600&amp;X-Amz-Signature=4cbce5820cc5ce59f5c48e454046154e4f09a289afb4ec86e4db6ef5e7870850\"><\/a><figcaption id=\"caption-attachment-833639\" class=\"wp-caption-text\">Source: Grayscale Research<\/figcaption><\/figure>\n<h2>Fed Policy May Offer a Better Signal<\/h2>\n<p>The firm favors a macroeconomic framework that treats bitcoin more like other major asset classes.<\/p>\n<p>Past crypto bear markets have often coincided with weaker economic growth or rising real interest rates. The current downturn has also unfolded alongside tighter Federal Reserve policy expectations and an increase in inflation-adjusted yields.<\/p>\n<p>If those pressures ease, bitcoin could recover without repeating the full drawdowns seen in previous cycles.<\/p>\n<p>\u201cIf the Fed forgoes rate hikes and economic growth holds up well, bitcoin\u2019s price may already have bottomed,\u201d Pandl said.<\/p>\n<p>That outlook depends heavily on the resilience of the U.S. economy. A renewed rise in interest rates or a sharp slowdown in growth could place fresh pressure on risk assets, including bitcoin.<\/p>\n<p>Grayscale\u2019s analysis does not dismiss the possibility of another decline. Instead, it suggests that investors should look beyond the halving calendar when assessing the market.<\/p>\n<p>The debate reflects bitcoin\u2019s changing position in global finance. Its supply remains governed by code, but its price is increasingly shaped by the same forces that move stocks, bonds and other risk-sensitive assets.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/grayscale-says-fed-policy-could-decide-if-bitcoin-bear-market-ends-now-or-runs-to-october\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Grayscale says bitcoin may stay weak until September or October if its 4-year cycle repeats. Bitcoin\u2019s historic 80% bear-market losses may matter less as Fed policy drives institutional demand. Grayscale sees a bottom forming if the Fed avoids hikes and U.S. growth holds through 2026. Zach [&hellip;]<\/p>\n","protected":false},"author":3947362377,"featured_media":75885,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/75884"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362377"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=75884"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/75884\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/75885"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=75884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=75884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=75884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}