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đ The 4-Year Cycle Is a Myth Crypto doesnât follow a fixed halving rhythm â it follows liquidity and the broader business cycle. âĄď¸ The ISM PMI, a key measure of economic strength, has stayed under pressure for almost three years, showing weak growth âĄď¸ Tight financial conditions, high rates, a strong dollar, and expensive oil keep liquidity trapped âĄď¸ Without fresh liquidity, risk assets like crypto canât build sustained momentum The pattern is clear: bull markets return only when money does. đ´Powered by White Horse