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Is Bitcoin’s Four-Year Cycle Over?
From fidelitydigitalassets.com
As bitcoin matures, price behavior is diverging from previous cycles. At an all-time high market cap of approximately $2.5 trillion as of October 2025, bitcoin is significantly larger in scale and more liquid than in the past. For most of its existence, bitcoin’s volatility has risen in tandem with price, culminating in multiple cycle-ending blow-off tops at new all-time highs. In contrast, the current cycle has exhibited a markedly different pattern, with volatility decreasing even as price reached new highs above $126,000 in October 2025 per Glassnode. This article explores the changing dynamics of bitcoin as it ... (full story)