# HALVIN

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This is the first cycle of $BTC com:
• halving under positive real interest rates
• spot ETFs absorbing liquidity daily
• much more institutional market
If you analyze 2025 with the logic of 2017, you might be making a costly mistake.
#HALVIN
📌 Full analysis in the article.
BTC-5,82%
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MauerTradervip
Why is this Bitcoin cycle completely different from the previous ones?
For years, the market has learned to treat Bitcoin's cycles as something almost predictable.
Halving, acceleration, euphoria, top.
But this cycle broke that logic - and it wasn't in the price, it was in the structure.
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