Bitcoin is trading more like an ‘amplified version of gold’ again, but the four-year cycle theory threatens further decl

Bitcoin’s price action has shifted to track gold more closely, behaving as an amplified version of gold with larger moves in the same direction. Growing correlation with gold and macro risk-off flows means macro shocks that move gold are likely to move Bitcoin even more sharply. At the same time, the persistent four‑year cycle theory — tying peaks to halvings and troughs to the subsequent years — implies structural downside risk and the possibility of further declines if that pattern continues.