According to @Andre_Dragosch, Bitcoin (BTC) behaves as a network with S-curve adoption, while common power-law price fits implicitly assume declining volatility, flatter cycle peaks, diminishing returns, and a decreasing growth rate, source: @Andre_Dragosch on X, Nov 16, 2025. He adds that if a new acceleration occurs, traders should expect higher-than-expected volatility, larger-than-modeled price expansion, faster network growth than the historical trend, and a vertical shift in the log–log regression, source: @Andre_Dragosch on X, Nov 16, 2025. Dragosch states that this kind of outer forcing invalidates a single power-law fit, source: @Andre_Dragosch on X, Nov 16, 2025. For trading, this indicates elevated tail-risk for BTC volatility and wider price ranges versus power-law baselines during any acceleration phase, source: @Andre_Dragosch on X, Nov 16, 2025.

According to Glassnode, the current percentage of Bitcoin wealth held by new investors (24 hours to 3 months) is at 50.2%, which is significantly lower than the peaks seen in previous all-time high cycles, such as 85% in 2018 and 74% in 2021. This suggests that new investors are holding less influence over the market compared to past peak periods, potentially indicating a different market dynamic. Source: Glassnode.