【Glassnode: Bitcoin May Still Be Following the Historical Four-Year Halving Cycle】According to a report by the on-chain data analysis company Glassnode, despite some market predictions suggesting that the increase in institutional investors could break this pattern, Bitcoin's recent price trends may still be following its historical four-year halving cycle. Glassnode noted in its market report that from a cyclical perspective, Bitcoin's price movements resonate with past patterns. Several signs indicate that the Bitcoin cycle may be closer to the later stages than the market expects: Long-term holders taking profits: Long-term holders who have held Bitcoin for over 155 days are taking profits, their behavior resembling past 'frenzy phases', which further strengthens the impression that the market cycle has entered the later stages. Demand showing signs of fatigue: Bitcoin's fund inflows 'show signs of fatigue'. According to data from Farside Investors, the spot Bitcoin exchange-traded fund (ETF) has seen a total outflow of approximately $975 million over the past four trading days. Price pullback: Since reaching a new high of $124,128 on August 14, Bitcoin's price has dropped by 8.3%, standing at $113,940 at the time of writing. Glassnode believes that if Bitcoin continues to follow its typical cycle, its peak may come as early as October. At the same time, Glassnode acknowledges that each cycle has its uniqueness and cannot guarantee that market behavior will completely follow a fixed timeline.
