@topadvert
Bitcoin is still far from showing its top
And the reason isn’t that the four-year cycle is broken. What matters is what actually drives this cycle — and why it worked in the first place.
Bitcoin is not programmed for cycles.
There is no built-in four-year growth pattern in BTC’s code. What we called “cycles” is actually a side effect of the business cycle and global liquidity.
Bitcoin is not a company and has no revenue. It’s a valve for global liquidity:
▪️ More liquidity → BTC rises.
▪️ Less liquidity → the market becomes fragile.
What’s happening now?
We are still in the longest liquidity-tightening cycle in history. That’s why BTC’s price action in this cycle looked like this:
▪️ Rise → Sideways → Pullback → Repeat. We simply had no fuel.
Unlike previous cycles, BTC kept rising even under tightening conditions — thanks to institutional and governmental adoption.
This combination created confusion: the business cycle pushes down while institutions pull up.
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