Samson Mow, the founder and CEO of Bitcoin technology firm Jan3, has strongly asserted that the highly anticipated <a href="https://www.cryptoknowmics.com/news/bitcoin-underperforms-us-treasuries-as-macro-headwinds-drive-flight-to-safety/">Bitcoin</a> (BTC) bull run is yet to commence, despite the asset's significant price movements this year. Mow claims that Bitcoin's current performance, which has seen the price mostly consolidate, only "marginally outperform[s] inflation at this price range," failing to meet the criteria for a true, parabolic market cycle.

[embed]https://twitter.com/JAN3com/status/1986111738299773376[/embed]
<h2>Dissecting the Market Cycle Timeline</h2>
Mow’s analysis challenges traditional cycle theories, suggesting that the widely expected post-Halving surge has been delayed. Addressing those who still rely on historical patterns, Mow commented on the possibility of a longer cycle: "That means a longer cycle, cycle top in 2026? or it means a generational bull run for a decade, like gold post ETF, or it means no more cycles again, Omegacycle. Plan accordingly."

He has consistently maintained that the next bullish phase will be characterized by a <b>"short and violent upheaval"</b>—a massive, rapid price appreciation rather than a slow, steady climb. This view aligns with his previous <b>$1 million BTC prediction</b>, which he believes is still very much in play once the true demand shock hits the market.
<h3>Institutional Demand and Strategic Reserves Are Key</h3>
[embed]https://twitter.com/Excellion/status/1985457339500282169[/embed]

The Jan3 CEO points to the lack of fully materialized institutional buying pressure as a reason for the current subdued price action. While institutional interest is strong and Bitcoin supply is tightening, the U.S. has yet to officially begin its planned <b>Strategic Bitcoin Reserve</b> accumulation, despite an executive order from President Trump.

Mow believes the commencement of significant, sustained capital inflows from major global players and, potentially, nation-states establishing their own reserves will be the true catalyst for the bull run. Until then, he urges traders to look past the current volatility and focus on the asset's robust fundamentals, expressing confidence in Bitcoin’s existing design without the need for new features or increased programmability.

Samson Mow Argues True Bitcoin Bull Run Hasn't Started, Predicts Delay to 2026

Jan3 CEO Samson Mow suggests the true Bitcoin bull run is delayed until 2026, claiming current prices only marginally outperform inflation.

Samson Mow Argues True Bitcoin Bull Run Hasn't Started, Predicts Delay to 2026

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