Bitcoin has been experiencing a correction over the past week, breaking record after record in the current cycle. While it has been noted that this cycle is driven by institutional adoption, at this point some analysts argue that the last cycle was not like previous cycles and the halving was not the focus. However, analysis firm Glassnode noted that despite growing institutional adoption, Bitcoin's historic 4-year cycle may still be intact. Glassnode noted in its latest analysis that Bitcoin's recent price action may still be following its historic four-year halving cycle. “From a cyclical perspective, Bitcoin's price action also reflects previous patterns.” Glassnode noted that Bitcoin's current cycle trajectory and duration closely resemble previous cycles. Analysts also noted that all-time highs in both the 2015-2018 and 2018-2022 cycles occurred 2-3 months later than the current timeline. At this point, according to analysts' chart, the market peak in Bitcoin could occur as early as October. “The peak cycle highs in the 2018 and 2022 cycles were reached just two or three months after where we are now when measured from the cycle low.” Glassnode also noted that increased profit-taking by long-term investors and a slowdown in spot Bitcoin ETF inflows suggest the market may be at the end of its cycle phase. This data could signal that the current bullish wave is nearing its end. *This is not investment advice. Continue Reading: Glassnode Says "Bitcoin's Bull Cycle Continues Unbroken!" and Sets a Date for the Summit!
