Look at the chart, and stop asking every day why it's dropping 😂

The bear market correction is decreasing with each cycle, and this trend is very clear:
In 2011, the bear market dropped 93%; from 2013-2015, it dropped 85%; in 2017-2018, it dropped 84%; and in 2021-2022, it dropped 76%
Based on this logic, a retracement of 65-70% is more reasonable, corresponding to the $38,000-$44,000 range
But I think this linear extrapolation is a bit naive; the real issue is: the market structure has changed. Now ETFs, institutional funds, and reserves from various countries are entering the market, and liquidity and participant quality are completely different
If this drop really only reaches 60%, it means Bitcoin has evolved from a speculative asset into a quasi-reserve asset 😂
Don’t be pessimistic about your industry