The 2025 yearly close is in: Bitcoin ended the year down ~6% - the first red candle in a post-halving year in its history.

And it’s sparked one of the most important debates in years: is the 4-year halving cycle dead, or has it simply evolved?
2025 brought no parabolic blow-off, no euphoric altseason, and no vertical escape from gravity. But it also brought ETFs, sovereign adoption, and over $3.5B in institutional rotation.
Personally, I see this as a reflection of a maturing asset: less mania, more structure. Liquidity cycles, macro flows, and regulatory milestones now hold more weight than mining supply alone.
The game is changing. But it’s far from over. Its a new era we are entering into.
What comes next might not fit the old patterns - but for those paying attention, 2026 could still surprise everyone.
‍#My2026FirstPost