Bitcoin Price Parabola: What’s Different Between The Last Bull Cycle And This One?

Bitcoin’s current cycle has challenged nearly every assumption traders rely on to identify a full market cycle. Price has climbed steadily over the past two years, but the explosive move that points to the late stages of a Bitcoin bull phase has been absent.  According to an analysis shared on X by crypto analyst Sykodelic, the confusion is due to a structural change that separates this cycle from every major Bitcoin rally that came before it. The difference is not psychological or technical in the usual sense of a four-year cycle. Liquidity Difference In This Cycle The disconnect between Bitcoin’s current price action and previous four-year cycles has led to questions among crypto analysts over whether the cycle has already peaked or if something different is influencing its behavior beneath the surface.  For instance, during the 2020-2021 bull market, Bitcoin’s peak coincided with a period of extreme liquidity expansion. Bitcoin followed that inflowinto a classic parabolic blow