Wells Fargo: Bitcoin's next cycle hinges on macro, not halving supply cuts
- —Wells Fargo says supply cuts are not the main driver of bitcoin's next cycle
- —Adoption, investor demand, regulation and macro are the key variables
- —The institute offered no specific price forecast for bitcoin
Why it matters: A major bank shifting the narrative from halving mechanics to macro and demand reframes how institutions value BTC.
Source: Seeking Alpha Crypto