Bitcoin has broken its 14 year 4 year cycle.



For the first time in history & the post halving year closed red.

Past patterns, halving year green → next year stronger → cycle top → bear market no longer hold.

Why? Bitcoin is evolving.

Today, its price is driven less by supply shocks & retail hype, more by:

• Liquidity conditions
• Interest rates
• Institutional flows
• Broader macro cycles

Halving still matters but its effect is smaller than before. Instead of a 4 year rhythm, Bitcoin may now follow a liquidity driven cycle.

The cycle isn’t dead, it’s maturing.
BTC3,85%
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