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On-chainHODL waves
BLOCK 959,318
825 days since the 2024 halving
$65,983.19-0.6%24h
Day 825
Get the daily briefBTC$65,983.19-0.6%24h
Cycle 5Day 825629d 16:48:00
PhaseMid-cycle expansion
DataLive· 23 Jul, 23:01 UTC
The Journal
The Journal

Every Chapter

The complete record of the Bitcoin cycle, one edition per week — preserved exactly as it was written. 4 Chapters and counting.

Chapter 61· This week, liveWeek of 20–26 Jul 2026

How Healthy Is The Market Today?

The broader cycle thesis held.

Constructive week6 min read
Chapter 60Week of 13–19 Jul 2026

Bitcoin held a historically cheap footing

Bitcoin is attractive by historical standards, at the 23th percentile of its range.

Clear historical context3 min read
Chapter 59Week of 6–12 Jul 2026

Bitcoin held a historically cheap footing

Bitcoin is attractive by historical standards, at the 23th percentile of its range.

Clear historical context3 min read
Chapter 58Week of 29 Jun–5 Jul 2026

Value and fear arrived together

Bitcoin is attractive by historical standards, at the 20th percentile of its range.

Clear historical context3 min read

Historical context. Not prediction. Not financial advice.

Halvinglens.com

An independent Bitcoin research publication. Historical cycle context — evidence-led, with no hype and no price predictions.

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© 2026 HalvingLens · Founded and published by Ben Thompson. Educational historical context — not financial advice, not a prediction, no price targets.

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