Prominent cryptocurrency analyst Benjamin Cowen analyzed the causes of the recent Bitcoin (BTC) market decline via his X (formerly Twitter) account. Cowen noted, "There are various interpretations regarding the current Bitcoin decline," pointing out that "In years with U.S. midterm elections, BTC has tended to show weakness until June." He continued, "The 4-year cycle theory is often criticized and even mocked, but it has demonstrated higher explanatory power than any other theory presented so far," emphasizing that the traditional market cycle analysis remains valid.