Bitcoin is trading at around $84,000 after a sharp drop of 35% from recent highs of over $126,000. The move follows an early lead in the market cycle, where the asset rallied to new all-time highs ahead of the 2024 halving. Analyst Rekt Capital noted that this placed Bitcoin 260 days ahead of its usual cycle rhythm. That lead has now been erased.

Since the halving, BTC spent over eight months moving sideways. The rejection from old highs, 550 days post-halving, aligns with historical cycle peaks. With the early acceleration now gone, attention is shifting to whether the current cycle could extend beyond past norms.

Bitcoin is trading at around $84,000 after a sharp drop of 35% from recent highs of over $126,000. The move follows an early lead in the market cycle, where the asset rallied to new all-time highs ahead of the 2024 halving. Analyst Rekt Capital noted that this placed Bitcoin 260 days ahead of its usual cycle rhythm. That lead has now been erased.

Since the halving, BTC spent over eight months moving sideways. The rejection from old highs, 550 days post-halving, aligns with historical cycle peaks. With the early acceleration now gone, attention is shifting to whether the current cycle could extend beyond past norms.