Grayscale Sends a Strong Signal: Could BTC Now Be in the “Golden Pit” for Long-Term Funds?
Zach Pandl, Grayscale’s head of research, is being quite direct with his latest view: while no one can precisely time the market’s bottom, looking at it from three angles—long-term adoption, market cycles, and the macro environment—BTC’s current price has begun to offer comparatively attractive value for long-term positioning.
So why does he say that? First, the long-term demand logic for Bitcoin hasn’t been broken. Government debt growth, blockchain’s entry into traditional finance, and younger generations gradually changing how they allocate assets are all continuously expanding BTC’s potential user base and capital pool.
Second, this bear market has lasted about 10 months. In previous cycle-based bear markets, the duration was typically around 11 to 12 months. In other words, if historical cycles still provide any reference, today’s level may already fall in the latter half of the bear phase.
Of course, the biggest variable is macro policy. If the U.S. keeps raising rates, BTC could still see another pullback. But if the interest-rate environment no longer tightens further, the market would have reason to reassess whether this adjustment may already be nearing its end.
Therefore, Grayscale’s core message isn’t “buy now and it will definitely go up.” It’s more like: don’t keep trying to nail the exact bottom. Real long-term capital focuses more on the odds at the current level and the room for the future.
The hardest time in a bear market is when nobody dares to buy. By the time everyone turns bullish again, the price may no longer be the same as before. $TUT $PORTAL #PUMP #ZRO #SC #TST #SYN
Zach Pandl, Grayscale’s head of research, is being quite direct with his latest view: while no one can precisely time the market’s bottom, looking at it from three angles—long-term adoption, market cycles, and the macro environment—BTC’s current price has begun to offer comparatively attractive value for long-term positioning.
So why does he say that? First, the long-term demand logic for Bitcoin hasn’t been broken. Government debt growth, blockchain’s entry into traditional finance, and younger generations gradually changing how they allocate assets are all continuously expanding BTC’s potential user base and capital pool.
Second, this bear market has lasted about 10 months. In previous cycle-based bear markets, the duration was typically around 11 to 12 months. In other words, if historical cycles still provide any reference, today’s level may already fall in the latter half of the bear phase.
Of course, the biggest variable is macro policy. If the U.S. keeps raising rates, BTC could still see another pullback. But if the interest-rate environment no longer tightens further, the market would have reason to reassess whether this adjustment may already be nearing its end.
Therefore, Grayscale’s core message isn’t “buy now and it will definitely go up.” It’s more like: don’t keep trying to nail the exact bottom. Real long-term capital focuses more on the odds at the current level and the room for the future.
The hardest time in a bear market is when nobody dares to buy. By the time everyone turns bullish again, the price may no longer be the same as before. $TUT $PORTAL #PUMP #ZRO #SC #TST #SYN
