Market Macro Update: Bitcoin crashes have always looked scary before the real bottom shows up.
Past Bitcoin cycles show deep drops from the top, around 87% in 2013, 84% in 2017, and 77% in 2021, while the current cycle is still around a 45% drop so far.
With the last ATH near $126K in Oct 2025, even a softer 70% drop points to a possible bottom near $38K, meaning there is still room on the downside.