Key Takeaways Bitcoin’s “this time is different” narrative keeps returning, but the broader cycle pattern remains intact. BTC drawdowns are getting shallower, while gains from cycle lows are also shrinking. Greater adoption could change Bitcoin’s long-term price dynamics beyond the patterns seen so far. Since mid-August, analysts have started talking about the differences in this bitcoin (BTC) cycle more often again, looking for what has changed in the market. Once more, this chatter fits the usual pattern, seen across BTC’s history and in attempts to understand this still-maturing market. Every time we heard that “this time is different,” it usually …