比特幣（BTC）可能正在進入一個獨特的周期，破壞了歷史分形模式

就在加密參與者討論比特幣似乎已經進入看跌階段的時候，由於其目前的歷史最高水平並延長了比特幣

Just when crypto participants are discussing that Bitcoin seems to have entered a bearish phase due to its sharp pullback from its current all-time high and prolonged consolidation phase, the digital asset has rebounded strongly, revisiting levels like $95,000.

就在加密參與者討論比特幣似乎已經進入看跌階段的時候，由於其目前的歷史高和延長的合併階段的急劇下降時，數字資產的反彈很強，重新審視了95,000美元。

Even though BTC has failed to reclaim its all-time high, many believe the ongoing cycle might be unique.

即使BTC未能恢復其歷史最高水平，許多人認為持續的周期可能是獨一無二的。

A Potential Change In Bitcoin Upholding Fractal Cycle Dynamics

比特幣維護分形週期動態的潛在變化

The recent resurgence has put Bitcoin back on track in the ongoing bull cycle as the flagship asset is seen getting closer to a key resistance level.

最近，由於旗艦資產越來越接近關鍵阻力水平，因此最近的複蘇使比特幣重回正軌。

Also, as this BTC cycle progresses, crypto analyst Jelle has highlighted a possible timeline for it to come to an end. Since its creation, each Bitcoin cycle has lasted longer than the one before it. It is worth noting that BTC’s current high was set about 791 days after the bear market bottomed.

同樣，隨著BTC週期的進展，加密分析師Jelle突出了可能的時間表，使其結束。自創建以來，每個比特幣週期的持續時間都比之前的持續時間更長。值得注意的是，BTC的當前高點是在熊市底部底部791天設定的。

Based on this notion, the expert claims this cycle will top out in Q4 2025, with new all-time highs yet to come. However, since BTC has displayed notable bullish performance, the main discussion among the crypto community has been a potential disparity between this cycle and previous ones, and not when it will top out.

基於這一概念，專家聲稱，該週期將在第4季度2025年最高，而新的歷史最高點還會到來。但是，由於BTC表現出了顯著的看漲表現，因此加密社區之間的主要討論是該週期和以前的循環之間的潛在差異，而不是何時出現。

On-chain expert and verified author, Darkfost, recently provided insights on the heated discussion. Bitcoin’s price behavior has historically followed identifiable fractal patterns, with predictable boom-and-bust dynamics at the heel of the bull market. But crypto enthusiasts are saying the current cycle might break the fractal cycle dynamics seen in BTC’s history.

鏈上專家和經過驗證的作者Darkfost最近就激烈的討論提供了見解。比特幣的價格行為歷來遵循可識別的分形模式，在牛市的腳後跟具有可預測的繁榮和破壞動力。但是加密愛好者說，當前週期可能會打破BTC歷史上看到的分形週期動態。

Thus, Darkfost has combined a chart with important macro statistics and Bitcoin’s price movements to further provide input on the discussion and highlight the main reason why this cycle might actually be different.

因此，DarkFost將圖表與重要的宏觀統計數據和比特幣的價格變動相結合，以進一步提供討論的意見，並突出顯示該週期可能實際上不同的主要原因。

A closer look at the chart shows that the first major takeaway is that BTC has never had to rally in such a hostile environment for risky assets. The chart also highlights that BTC has reached two new all-time highs even though the Federal Reserve’s (Fed) rates have never been this high.

仔細查看圖表表明，第一個主要要點是，BTC從來不必在如此敵對的環境中爭奪風險的資產。該圖表還強調，即使美聯儲（美聯儲）利率從未如此高，BTC已經達到了兩個新的歷史高點。

What The Treasury Yields Say

財政部的收益如何

According to the expert, the state of US Treasury yields is another crucial aspect suggesting that this cycle may be different. This is because large institutional investors have the opportunity to earn a 5% dividend with no actual risk. “What’s even more striking is that the US2Y has been higher than long-term yields, an unusual and historically significant setup,” he added.

根據專家的說法，美國財政收益率是另一個關鍵方面，表明該週期可能有所不同。這是因為大型機構投資者有機會獲得5％的股息，沒有實際風險。他補充說：“更令人驚訝的是，US2Y的長期收益率高，這是一種不尋常且歷史上重要的設置。”

Considering all of these factors, Darkfost stated that it is clear that this cycle could be different. Although riskier assets haven’t received much liquidity, Bitcoin has still managed to show remarkable performance. Presently, uncertainty still lingers in the sector, especially now that US President Donald Trump is back in the picture. Nonetheless, if macro conditions improve this year and extend into 2026, the first-ever truly unique BTC cycle may unfold. In the meantime, the market is still in a normal cycle.

考慮到所有這些因素，DarkFost表示，很明顯，這個週期可能有所不同。儘管風險較高的資產並沒有得到太多的流動性，但比特幣仍然設法表現出卓越的性能。目前，不確定性仍在該行業中，尤其是現在美國總統唐納德·特朗普（Donald Trump）恢復了照片。但是，如果宏觀條件今年改善並延伸到2026年，那麼第一個真正獨特的BTC週期可能會展開。同時，市場仍處於正常週期。