Analyst: Bitcoin Approaches 365 Days Without New All-Time High

The interesting signal here is not the absence of a new high but the compression of cycle lengths: each successive top-to-top gap has shortened, which implies Bitcoin's four-year rhythm may be loosening rather than repeating mechanically. That matters for anyone using halving-based timing as a framework, since a shrinking cycle makes calendar-based expectations less reliable. Whether this compression persists into the next cycle, or simply reflects the specific conditions of recent years, is the open question worth tracking.