$BTC Up three, down one, the curse has been broken! Has an era ended?

Brothers, a "cyclical law" that has been repeatedly mentioned by veteran crypto enthusiasts for over a decade was officially broken in 2025.

The data speaks: Bitcoin closed this year at 87,870, compared to 93,567 at the beginning of the year, a decline of 6.08%. This means that the classic four-year cycle rhythm of "rising three years, falling one year" established since 2011 has, for the first time, shown a deviation.

What does this really mean?

Don’t panic, this isn’t the end of the world, but definitely a “market maturity signal” worth deep reflection.
1. The so-called “rules” are themselves summaries of history: past rules were formed when Bitcoin’s market cap was small, driven by single narratives (like halving), and under a long-term global low-interest-rate environment. Today, its size and participant structure are vastly different.

2. Why is 2025 different? This year we experienced: sustained high interest rate suppression, a slowdown in ETF incremental capital inflows, and more complex macro battles. The market has transitioned from simple cyclical speculation to being more deeply tied to global liquidity. The old “script” simply no longer applies.

3. Is it a bad thing? Not necessarily. The breaking of rules actually indicates that Bitcoin is moving out of its own independent rhythm, with a more complex and diverse price discovery mechanism. It’s no longer the “cyclical asset” that could be predicted in just a few days.

To sum up: the end of an old cycle means the beginning of a new phase. The 6% decline in 2025 doesn’t shake faith but breaks a simple mental model. The road ahead requires a clearer mind. Welcome to verify my every move in 2026! $ETH $SOL #DrHan2025年终公开信 #我的2026第一条帖 #加密行情预测 #比特币与黄金战争