Willy Woo: Bitcoin has become a global macro indicator in this cycle Crypto analyst Willy Woo pointed out in a post that Bitcoin is transitioning from a traditional 4-year cycle model to a global macroeconomic driver, and the endogenous factor of halving mining rewards is weakening. Bitcoin is currently more driven by global liquidity fluctuations, becoming the "canary in the coal mine" of global macro trends, reflecting changes in market expectations and fund movements.