pricediscoveryalgorithm

It took nearly 30 months for Bitcoin to reclaim and break above its 2021 all-time high. That’s not just a number — that’s a full psychological cycle of doubt fear disbelief and finally… acceptance.
After the 2021 peak near $69K, the market went through:
• Aggressive rate hikes
• Major crypto bankruptcies
• Liquidity collapse
• Institutional deleveraging
• Retail capitulation
Most people thought the cycle was over forever.
But history tells a different story.
In previous cycles, Bitcoin has always needed time — not hype — to build a true breakout. The 30-month recovery wasn’t weakness. It was structural rebuilding:
Weak hands exited
Long-term holders accumulated
Supply tightened
Institutional infrastructure expanded
Spot ETF demand changed the game
This wasn’t a fast rebound like stocks. This was a deep reset cycle.
Now here’s the key insight most people miss:
When Bitcoin breaks an old ATH after such a long consolidation period, it usually enters a price discovery phase where resistance levels are thin and volatility expands upward.
The longer the base → the stronger the breakout.
But there’s another layer…
Unlike 2017 and 2021, this breakout happened in an environment where:
Wall Street is fully involved
Derivatives dominate volume
ETFs absorb spot supply
Governments are actively regulating
This makes the cycle more mature — but also more complex.
The 30-month wait wasn’t just about price recovery.
It marked Bitcoin’s transition from a speculative asset to a macro asset.
The real question now isn’t “Can it hold the breakout?”
The real question is: How aggressive will the next expansion phase be compared to previous cycles?
Because historically, once Bitcoin confirms a new ATH after a long reset phase… the move that follows is rarely small.
#ATH