The price of bitcoin is determined by its supply and demand.
If you closely examine the data from the halving season, which occurs every four years, you will discover that the price appears to rise more than anticipated during the halving season and that it then begins to decline (up and down) after the halving.
_act_ remark clarifies everything regarding the fluctuations in the price of bitcoin each year.
Bitcoin halves in approximately every 4 years.
The first year after halving, bull run
The second year, bull run
The third year, a very significant bear market
Fourth year, bull and bear market.