How does 2025 compare to previous cycles?

[AIcash]

Despite a nearly 40% drawdown, Bitcoin’s decline is minor compared to past bear phases. Analysts note that forced selling has been limited, leverage is lower, and long-term holders remain resilient, indicating a more mature, stable market.

What macro factors are at play?
U.S. Federal Reserve policy will influence risk assets. While inflation is declining and the labor market softens, the Fed is not expected to cut interest rates in January 2026. Bitcoin, however, remains relatively insulated, with whales and long-term holders absorbing supply.