The people selling you 50-year debt are quietly building Bitcoin rails behind the scenes.

Watch what they do, not what they say.

Once an asset becomes foundational, volatility compresses.
Lyn calls it the “mega-cap phase.”

Apple had it.
Microsoft had it.
Now Bitcoin’s entering it.

Quick 5x may be gone, but so are 80% crashes.

Volatility is compressing.
Whales are maturing.
Cycles are flattening.

This is what it looks like when Bitcoin stops being a trade, and starts becoming a base layer.

The halving narrative? Fading fast.
What drives Bitcoin now is global liquidity, deficits, and who still has coins left to sell.

This isn’t a four-year folklore anymore, it’s macro infrastructure.

Zoom out.
Every major bear market since 2013 ended near Bitcoin’s 50-week moving average.
We just bounced off it again.

Even JPMorgan’s desk called BTC “undervalued relative to gold.”
The institutions aren’t dumb. They’re early this time.

The fiat world is extending its lifespan.
The financial world is hedging its future.

They know the next standard is coming, they just won’t say it out loud yet.

Meanwhile, a federally chartered bank just became the first to fully integrate Bitcoin.

No fintech middlemen. No “crypto” wrapper.
Just insured deposits flowing straight into Bitcoin.

This goes beyond adoption, it’s the legacy system wiring itself into Bitcoin’s bloodstream.

When the system can’t lower rates or raise wages, it stretches time.

Fifty-year mortgages aren’t about helping families, they’re about keeping the debt machine alive another generation.

You don’t own the house. The system owns you longer.

This full episode of Swan Signal Live is one of the most important Bitcoin discussions of the year.

🎥 Watch the replay on X → https://x.com/Swan/status/1986871558938501553
📺 Also available on the Swan Bitcoin YouTube channel & podcast feeds.

When Lyn Alden talks, serious investors listen.

What’s next?

“I expect the numbers to be pretty good in 2026 and 2027.”

Flat. Consolidate. Then accelerate.
The easy 5× runs might be over — but so are the 80% crashes.

The old cycles are dying — but adoption isn’t.

“Every major bull run sees older holders selling into strength — like a startup going public. Each cycle, Bitcoin becomes more widely held, more institutional.”

We’re witnessing Bitcoin’s IPO moment.

Fiscal dominance is masking the slowdown.

“Consumer sentiment is already at recession levels, but because we have fiscal dominance, assets can levitate even as the real economy weakens.”

That’s the paradox: weak Main Street, strong Bitcoin.

Retail’s gone missing.

“This cycle hasn’t been retail-driven at all. Google Trends aren’t doing anything special. Most of the demand is institutional or high-net-worth.”

The next leg won’t be retail mania — it’ll be capital rotation.

Liquidity — not halvings — runs this market.

“We’re ending the period of Fed balance-sheet contraction. Entering a flat phase, then most likely expansion. Not massive QE — but structural increases that are beneficial for Bitcoin.”

When liquidity returns, Bitcoin moves. Period.

The “cycle” has matured into a macro asset.

“The Mag 7 stocks had muted booms and busts. I think Bitcoin’s in that phase now — where it surprises bears to the upside, gets bigger, and goes on longer than they think.”

The 4-year fireworks are fading. The mega-cap era has begun.

The halving no longer drives the cycle.

“As the halvings continue, the new supply is a much smaller component… It’s more about what price will unlock coins from existing holders.”

Translation: Bitcoin now moves on psychology, not issuance.