BTCUSD — Halving rally isn't here yet. 113 days until the windowBitcoin / U.S. dollarBITSTAMP:BTCUSDToruBitcoin continues to follow its typical post-halving behavior. Historically, the most explosive part of the bull cycle tends to begin roughly 12–18 months after the halving. With the 2024 halving now behind us, that would point to a potential regime shift around October 2025 – early 2026. Until we reach that seasonal/cyclical window, I expect the market to remain largely range-bound or in a slow grind, even if liquidity-driven signals appear. In previous cycles, early liquidity injections often failed to ignite sustained upside and were frequently met with strong resistance ("hitting the head" against available liquidity).