Bitcoin is trading around $85k after dipping below $60k in June. It's been about a year since the last peak of $126k, and historical 4-year halving cycles suggest the bottom might be in. The next halving is in April 2028. Usually the 18 months leading up to it show strong performance. The recent price action is notable because BTC went up despite the Fed hiking rates in September and the Clarity Act failing to pass. Coinbase CEO Brian Armstrong threw out a $400k target by 2030, but obviously past cycles don't guarantee future results.