🔥 ATTENTION 🔥

📉 For the first time in 14 years, #Bitcoin broke its 4-year cycle.

2025 closed in the red (-6%), something never seen before in a post-halving year.

🧠 Has the pattern been broken? Perhaps not… it has evolved.

Before, the driving forces were:

▪️ Halving

▪️ Retail hype

Today, the driving forces are:

▪️ Global liquidity

▪️ Interest rates

▪️ Institutional flows

📊 $BTC no longer moves solely according to crypto cycles; it behaves like a macro asset.