We study the problem of $(1+\varepsilon)$-approximating the number of four-cycles in graphs given as arbitrary order edge streams. We propose two new algorithms based on sampling induced subgraphs. Our first contribution is a two-pass algorithm that uses $\widetilde{O}(κm / \sqrt{T})$ space, where $m$ is the number of edges, $T$ is the number of four-cycles, and $κ$ is the graph's degeneracy. This algorithm improves upon existing theoretical bounds and is provably optimal for constant-degeneracy graphs, matching the known $Ω(m/\sqrt{T})$ lower bound up to lower-order factors. Our second contribution is a one-pass algorithm that remains accurate when four-cycles are not highly concentrated around individual nodes, edges, or wedges; this structural property is common in sparse social and collaboration networks. We evaluate both algorithms on a variety of real-world graph streams. The two-pass algorithm consistently outperforms state-of-the-art methods, using substantially less space to achieve a desired accuracy. The one-pass algorithm is competitive when four-cycles are evenly distributed, matching our theoretical analysis. Unlike several recent works, our algorithms perform well even on non-bipartite graphs such as social networks.

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