806 days since the halving, and $BTC is trading at one of the deepest discounts ever seen for this point in a market cycle.



Around this stage of previous cycles, Bitcoin was much closer to — or above — its Power Law trend: • 2013: +0.06σ
• 2017: +0.49σ
• 2021: −0.54σ
• Current cycle: −1.81σ

The period that has historically aligned with peak-cycle risk has arrived, but a clear market top has yet to emerge.

The growth of spot ETF demand has reshaped Bitcoin's market dynamics, suggesting the traditional four-year cycle may no longer behave the way it did in the past.

If previous cycles offer any guidance, today's prices could represent one of the most attractive mid-cycle opportunities seen so far.

$BTC $ETH
#gStocksTokenizedStocksLive
BTC1.70%
ETH3.42%
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