Bitcoin in 2025 has taken many on a roller coaster ride—after surging to a record high of $126,000 in October, it has been steadily declining. This is the first time in history that a decline has occurred in the year following a halving. As 2026 begins, the downward trend has not stopped; in early February, it dipped to a low of $60,000 and is currently hovering around $67,000. The so-called "four-year cycle" seems to be losing its influence, as Bitcoin has become deeply tied to the Federal Reserve's policy pace.