Bitcoin briefly climbed to $82,262 this week, its highest level in four months, before retreating to about $79,800. André Dragosch, Bitwise’s head of European research, said rising macroeconomic uncertainty and currency-devaluation risks are prompting investors to view Bitcoin less as a high-risk technology asset and more as a store of value. Bitcoin’s 90-day price correlation with gold has approached its highest level in nearly six years, Dragosch said, making the cryptocurrency look increasingly like an amplified version of gold. The four-year cycle theory remains a source of downside concern: Fidelity said a future bear-market bottom could arrive around November 2026 if historical patterns persist. Galaxy research head Alex Thorn put the baseline downside scenario for the current correction at $40,000 to $46,000. Fidelity Digital Assets research vice president Chris Kuiper cautioned that the cycle is not a precise timing rule and does not mean Bitcoin must fall later this year, adding that longer investment horizons and holding periods have historically benefited investors.