Will Bitcoin reach a new all-time high soon, or is the current cycle different? On-chain analytics firm Glassnode suggests we might be witnessing something unique. Their recent analysis reveals that previous bull runs in 2017 and 2021 reached their peaks closer to the actual timeframe than currently. This indicates a delay compared to historical patterns, prompting investors to reevaluate market behavior. The reasons behind this delay are complex but include increased profit-taking and speculation activity. These factors act as a natural ceiling, limiting rapid price climbs towards an all-time high. Meanwhile, greater short-term buying and selling due to speculative trading introduces volatility rather than consistent sustained growth. While the long-term picture remains positive for Bitcoin, investors need to adjust their strategies to navigate this evolving market. Glassnode’s findings suggest a longer path to the peak, but one that could be built on a more stable foundation of interest than pure euphoria. ]