At 18, Bitcoin has a market capitalization of $1.6 trillion, with 95.7% of the 21 million coins already issued and a hash rate exceeding 1.084 zettahashes per second. The current cycle recorded a 53% decline, compared with falls of 77% to 93% in previous cycles, while the MVRV ratio bottomed at 1.10. Companies, governments and spot exchange-traded funds together hold nearly 2.15 million bitcoins, although some institutional investors have reduced their positions. In addition, 7.1 million bitcoins, or 35% of supply, are exposed to a potential quantum threat, although no quantum machine has yet compromised a key. Bitcoin traded at around $80,400 on October 28, 2026, and the next reward reduction, expected around 2028, will lower the block reward to 1.5625 BTC.
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