This Cycle is Different

For years, Bitcoin’s market cycles have followed the familiar 4-year cycle. During this bear market, that pattern started to shift, but many of the same signals remain highly relevant. Using his signature Spiral Chart, Rational Root looks at what has changed, from the arrival of institutional capital to changing market structure and the evolving relationship between Bitcoin and the broader business cycle. Is the 4-year cycle breaking, or evolving? And what can Bitcoin’s past still tell us about what comes next?