Bitcoin's Four-Year Cycle Theory Gains Momentum with Recent Rally
The Bitcoin price has shown significant gains in recent days, sparking discussion about whether it has finally flipped to start a new four-year cycle. On August 27th, Bitcoin [BTC] saw a 1.55% increase in value, pushing its price from $79,023 to $80,249.
This surge resulted in $68.95 million in short liquidations, compared to just $32.65 million in long liquidations. The streak of net inflows for Bitcoin Spot ETFs that started on August 17th was broken on Thursday, with a reported $35.3 million in outflows.
Despite the break in the streak, August has been a remarkably bullish month for crypto, and September is traditionally the most bearish month for Bitcoin. However, profit-taking sell pressure has been tapering off, and greedy sentiment continues to dominate.