Market movements follow a predictable pattern across liquidity cycles. Think of it like a rhythm: acceleration, then expansion, followed by contraction, and finally recovery. Bitcoin doesn't behave the same way in each phase. During acceleration phases, you see the strongest gains—historically averaging around 0.22% daily returns. That's when momentum kicks hardest. The expansion phase brings positive returns, but they start losing steam as volume plateaus. Contraction is brutal; this is where weak hands get shaken out and returns compress. Recovery's where things get interesting again, setting up the next cycle. Understanding which regime you're in matters more than most traders realize. It's the difference between riding waves and getting swept away.