Bitcoin continues to break records, but every half -handed cycle achieves smaller profits

Postal returns fall, but companies such as Strategy continue to collect Bitcoin, while miners strengthen network security.

The historical price process from Bitcoin (BTC) emphasizes a clear pattern. Although it has been actively climbed to new highlights after every half -finger, the profits have decreased.

New research even revealed that “the degree of post -painting price profits has been compressed in the course of time in the course of time since the second halving.”

Returns shrink quickly

Halvings, which reduce the speed of new Bitcoin that introduces circulation, have since 2012 reduced a block of 87.5% – from 25 BTC to the current 3,125 BTC. This has fueled scarcity stories that have long supported an upward price momentum. During this period, the value of Bitcoin increased more than 9,110-time and hit $ 109,000 on 1 September 2025. A month later it has risen crypto-active above $ 120,000.

Nevertheless, Coingecko stated that the size of the return has decreased after reducing. The second halving cycle in 2017 peaked 29x, the 2021 cycle fell to 6.7x and the newest run in 2025 has seen a relatively modest increase of 93.1%.

Interestingly, the rhythm of the cycle changed when Bitcoin in March 2024 placed a record of $ 73,400 -in the same way, before the fourth Halving -Challenging Historical Expectations. In the meantime, market activity has exploded, as is apparent from daily trade volumes that rise from around $ 20 million in 2013 to almost $ 30 billion in 2025.

This has not deteriorated not -marketing companies to increasingly adopt Bitcoin as a treasury activity. From 3 October 1,040,061 BTC became in the hands of nearly 200 listed companies, which is almost 5% of the total BTC nutrition. Strategy leads with 640.031 BTC. According to data merged Due to Bitcoin treasuries, this represents 63.2% of all Bitcoin and added another 4,048 BTC on 2 September.

Various new companies make important steps to Bitcoin. Twenty -one, supported by Tether, Bitfinex, Cantor Fitzgerald and Softbank, has purchased 43,514 BTC since May. It has now become the third largest company holder. In the meantime, the American health care company Kindlymd expanded its interests through a merger with Nakamoto BTC Holdings and added 5,765 BTC. It had also announced plans to collect $ 5 billion for the growth of the treasury.

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International construction organizations such as Metaplanet in Japan and Treasury BV in Europe build significant Bitcoin treasure boxes, where Treasury BV collected $ 147 million to acquire more than 1,000 BTC.

Bitcoin’s backbone strengthened

While institutional companies are climbing, the network itself has seen a remarkable expansion in computing power. The Hash speed of the Bitcoin network has had a steadily upward route because the participation of both individual miners and institutional players has continued to grow. In the past year alone, the hash percentage rose by 88%, from 670 million th/s to 1,266 zh/s.

Under the Trump administration, the American mining system has been expanded, partly helped by the relocation of Chinese mining hardware manufacturers such as Bitmain, Canaan and Microbt to the US, stimulated by rates and regulatory pressure.

Meanwhile, domestic companies, including Hive, Hut 8, Marathon and CleanSpark, give more priority to alternative energy sources for new facilities. Eric Trump has been added to the Momentum and recently has co-founder of American Bitcoin Corp, who debuted on the Nasdaq.