比特币（BTC）可能正在进入一个独特的周期，破坏了历史分形模式

就在加密参与者讨论比特币似乎已经进入看跌阶段的时候，由于其目前的历史最高水平并延长了比特币

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.

就在加密参与者讨论比特币似乎已经进入看跌阶段的时候，由于其目前的历史高和延长的合并阶段的急剧下降时，数字资产的反弹很强，重新审视了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未能恢复其历史最高水平，许多人认为持续的周期可能是独一无二的。

A Potential Change In Bitcoin Upholding Fractal Cycle Dynamics

比特币维护分形周期动态的潜在变化

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，由于旗舰资产越来越接近关键阻力水平，因此最近的复苏使比特币重回正轨。

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.

同样，随着BTC周期的进展，加密分析师Jelle突出了可能的时间表，使其结束。自创建以来，每个比特币周期的持续时间都比之前的持续时间更长。值得注意的是，BTC的当前高点是在熊市底部底部791天设定的。

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.

基于这一概念，专家声称，该周期将在第4季度2025年最高，而新的历史最高点还会到来。但是，由于BTC表现出了显着的看涨表现，因此加密社区之间的主要讨论是该周期和以前的循环之间的潜在差异，而不是何时出现。

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.

链上专家和经过验证的作者Darkfost最近就激烈的讨论提供了见解。比特币的价格行为历来遵循可识别的分形模式，在牛市的脚后跟具有可预测的繁荣和破坏动力。但是加密爱好者说，当前周期可能会打破BTC历史上看到的分形周期动态。

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将图表与重要的宏观统计数据和比特币的价格变动相结合，以进一步提供讨论的意见，并突出显示该周期可能实际上不同的主要原因。

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.

仔细查看图表表明，第一个主要要点是，BTC从来不必在如此敌对的环境中争夺风险的资产。该图表还强调，即使美联储（美联储）利率从未如此高，BTC已经达到了两个新的历史高点。

What The Treasury Yields Say

财政部的收益如何

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.

根据专家的说法，美国财政收益率是另一个关键方面，表明该周期可能有所不同。这是因为大型机构投资者有机会获得5％的股息，没有实际风险。他补充说：“更令人惊讶的是，US2Y的长期收益率高，这是一种不寻常且历史上重要的设置。”

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.

考虑到所有这些因素，DarkFost表示，很明显，这个周期可能有所不同。尽管风险较高的资产并没有得到太多的流动性，但比特币仍然设法表现出卓越的性能。目前，不确定性仍在该行业中，尤其是现在美国总统唐纳德·特朗普（Donald Trump）恢复了照片。但是，如果宏观条件今年改善并延伸到2026年，那么第一个真正独特的BTC周期可能会展开。同时，市场仍处于正常周期。