VanEck CEO: BTC is in final phase of halving cycle, forming a bottom

Jan van Eck, CEO of asset management firm VanEck, has stated that Bitcoin is entering the final phase of its four-year halving cycle and is currently forming a market bottom. In an interview with CNBC, he explained that Bitcoin's price, with its limited supply of 21 million, has historically been driven by its halving structure, where mining rewards are cut in half every four years. This has led to a recurring investment cycle where BTC typically rises for three years before undergoing a significant correction in the fourth year. He noted that this year is that fourth year, and the current bear market is a result of this pattern, which he believes does not require complex interpretation. He added that the market is now in a bottoming phase. Van Eck also suggested that the recent rebound could be partly influenced by the emergence of crypto-based payment infrastructure as an alternative following U.S. and Israeli airstrikes on Iran.