If BTC goes to 44k and bottoms it will be:
THE LOWEST % DROP FROM ATH OF ANY MAJOR BTC BEAR CYCLE.
STILL A 65% DRAWDOWN.
2015: 84.5%
2018: 83.8%
2022: 76.7%
2026 AT 44K: 64.8%
THE FOURTH STRAIGHT MAJOR CYCLE WITH A SMALLER DRAWDOWN.
NOT AN OUTLIER.
EXACTLY WHAT DECLINING VOLATILITY LOOKS LIKE.
LESS VIOLENT.
NOT IMMUNE FROM BEAR MARKETS.