The current BTC drawdown from $126K to $60K still does not offset the prior three-year advance in terms of market symmetry.



For a healthier macro structure to form, the asset likely needs to test levels below $50K.

The main arguments for a continued bear cycle are straightforward: the time imbalance of three years up versus just one year of correction, the still limited depth of the pullback relative to the historical top, and the possibility that the current upside is nothing more than a bear market rally.

Manage positions with caution.
$BTC $ETH $GT
BTC-0.86%
ETH-0.64%
GT-1.08%
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