According to Ki Young Ju, the BTC market is only fine if the widely referenced 4-year halving cycle theory is wrong. Source: Ki Young Ju post on X dated Nov 3, 2025. The 4-year cycle thesis stems from Bitcoin’s programmed block reward halving every 210,000 blocks that cuts new BTC issuance by 50% on a roughly four-year schedule. Source: Bitcoin whitepaper by Satoshi Nakamoto, 2008. The 2024 halving reduced the block subsidy from 6.25 BTC to 3.125 BTC per block, a structural supply change that traders monitor when evaluating cycle-driven price regimes. Source: Bitcoin.org Developer Guide on subsidy and halving rules.