Analysis Company Claims We Are at a "Historic Turning Point" in Bitcoin: "It Will Never Be Like This Again"

Swan, a financial services company focused on Bitcoin, published a striking analysis in the crypto markets. The company noted that the current cycle is progressing differently from others, warning that we may be witnessing "the last Bitcoin rotation before everything changes."

Swan argued that despite being in the last year of the classic four-year cycle, the price movements have not generated the expected excitement. While parabolic rises were seen in the third green year of Bitcoin in past cycles, the year 2025 has so far been characterized by a slower, more measured, and sideways market.

According to the analysis, a significant change is happening beneath the surface in the Bitcoin market. Investors who have held BTC for a long time are selling at levels above 100,000 dollars, while they are being replaced by institutional buyers such as BlackRock, Fidelity, large companies, and those establishing long-term strategic positions. Swan indicates that this new class of investors does not have the intention of selling.

Swan CIO Ben Werkman made the following statements:

"These companies are buying Bitcoin not for trading, but to hold in their long-term portfolios. They are only buyers. Not sellers."

According to Werkman, when long-term capital and inelastic supply come together, the supply in the market can quickly dry up, which can lead to "explosive" results in terms of prices.

MicroStrategy CEO Michael Saylor also contributed to the analysis by stating the following:

"People not committed to the long term are leaving the market... a completely different class of investors is entering in their place."

Swan notes that this transformation is happening not only between types of investors, but also across generations. After the Silent Generation, which relies on gold, Baby Boomers who accumulate wealth in stocks, and Generation X, who grew up with technology, Generation Y, which has now started to inherit trillions of dollars, is (Millennials) on the scene and this generation prefers Bitcoin.

The analysis argued that the structural transformation in Bitcoin is also supported by the macroeconomic background. Swan noted that the unusual rise in bond yields while the US dollar depreciates is a dangerous signal for global capital.

The finale of Swan's remarkable analysis included the following warning:

"If you are selling Bitcoin right now, you are most likely giving it to an institution that plans to hold it forever. You may not have a chance to buy it back. This is not just the next cycle, but the end of an era. Supply is running out. Buyers are different. The macro structure is breaking. This could be the last Bitcoin rotation."

*It is not investment advice.

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