Bitcoin rallied on Thursday, but if trading this year is any guide, this pop will be one to fade.
Bitcoin is down 13% from its March 13 record and ether has tumbled 34% in the same period.
With a year-to-date gain of 50%, bitcoin is considered to be in a bull cycle that began in March 2023.
The most recent Bitcoin halving took place in April, and the post-halving highs historically don't come until about 18 months after the supply cutting event .
Between the popularity of bitcoin ETFs that launched in January, the slowing of the bitcoin supply and a slew of other macro and micro catalysts, many traders are holding out for a price surge.
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