Bitcoin’s four-year market cycle remains unbroken despite recent declines, though drawdowns are less severe than past cycles.
Bitcoin’s four-year market cycle has not yet ended despite trading below $60,000, according to a recent analysis. The cryptocurrency fell 52% from its all-time high of $126,080, now trading at $59,781, but the decline is milder than prior cycles’ 80%+ drawdowns.
The cycle, historically tied to Bitcoin’s halving events, was expected to break in 2026. However, price action still resembles past patterns, though institutional ETF ownership has altered market dynamics. Crypto ETF assets under management and DeFi total value locked face headwinds this year.
The report noted that while the cycle persists, the absence of full capitulation suggests structural shifts in investor behavior.