Bitcoin bottom likely in, asymmetric opportunity.
Bitcoin has likely bottomed because the bear market relative to assets like silver has already been severe (down 80%), long-term holder supply is over 80%, institutions are accumulating via ETFs while retail shorts are extreme, and the asymmetric opportunity around current levels (near short-term holder realized price and 200 DMA) is too large to ignore. The traditional 4-year cycle may no longer apply due to changed supply dynamics and institutional buying.