"Bitcoin is consistently traded not only at but below its realized price during every past bare market. Currently, that level sits near $54,000 and $40,000 would be on par the course of any ordinary bare market, which of course is the standard draw down target for a 4year cycle. That's the number that's been bantered about for a long time."

…haustion is a very real thing and we might be heading into that phase of seller exhaustion where we don't necessarily have a lot of buyers stepping on the other side, but also sellers are kind of running out of ammunition and the people who are in are in and are deciding to stay in for better or for worse in the short term. Kyle Dupes shared this. Bitcoin is consistently traded not only at but below its realized price during every past bare market. Currently, that level sits near $54,000 and $40,000 would be on par the course of any ordinary bare market, which of course is the standard draw down target for a 4year cycle. That's the number that's been bantered about for a long time. And of course, well, it may seem like, well, that's just ridiculous. Why do we have to go down to $40,000? Why can't $60,000 be the bottom? Which it might be. You never know. We're pretty close to that level right now. Now, it doesn't take much to push us back into uh new yearly lows for BTC. But, but the thing is with Bitcoin, it's a narrative as…