The maturation of the crypto market and increasing institutional involvement have changed the dynamics, reducing reliance on traditional speculative patterns, according to Nailwal. He mentioned that high interest rates in the U.S. and low liquidity have dampened speculative activity, but this trend will shift with reduced interest rates and political stability. Nailwal believes that major price corrections of 30-40% may still occur between market cycles, but extreme 90% drawdowns in crypto could become less frequent as the market matures. He also highlighted the impact of factors like the Trump administration's Bitcoin strategic reserve and the introduction of exchange-traded funds on the traditional four-year market cycle. Additionally, macroeconomic factors such as geopolitical uncertainty and inflationary pressures continue to influence investor behavior in the crypto market.