Bitcoin’s Bear Cycle Looks Familiar — And That Might Be the Bullish Case

Bitcoin Magazine Bitcoin’s Bear Cycle Looks Familiar — And That Might Be the Bullish Case Bitcoin has fallen from a record high of roughly $126,080 in October to trade recently in the low-$60,000s — a decline of nearly 50% that has rattled sentiment.

But it may just be business as usual.  According to a Thursday report from asset manager VanEck, Bitcoin’s current slump tracks the asset’s historical four-year halving cycle, in which mining rewards are periodically cut in half, tightening new supply and often preceding a bear phase.

The firm framed this downturn as a recurring feature of Bitcoin’s market structure rather than a break from it.

VanEck’s GEO framework — which tracks Global Liquidity, Ecosystem Leverage, and On-Chain Activity — currently shows two of three signals reading neutral, with ecosystem leverage in constructive territory.