Decent read to look back on from the 6th of October when the market was trading right at its all time high. There was a lot of discussion whether the 4 year cycle would continue or not. So I wrote: "One thing I do want to throw out there is the fact that even if a smaller percentage of market participants does believe in the 4 year cycle, they might end up selling over the weeks to come, which could put some pressure on. This is how in previous cycles this also became a bit of a self fulfilling prophecy." Even though the chart looked amazing and there was seemingly no reason for it to top out. Many market participants still swear by this idea of the 4 year cycle and started selling regardless. Obviously my tweet was not a top call itself so don't see it as one. This tweet is not to claim clout or whatever. Just to look back on what is only a little over a month ago during a completely different market environment. The reason I was conflicted about the 4 year cycle was exactly what we've seen the past few weeks. Maybe the 4 year cycle does indeed break, and we make a new high somewhere in 2026. But that doesn't remove the fact that Q4 of this year is technically the point where BTC would top relative to other cycles. And that does mean people start selling. Which has been very clear recently. Now what's next? I still believe that if you want any meaningful bounce, you need the spot selling to slow down first (obbviously). This is not the case yet. A good first sign would be for funding rates to turn negative and coinbase premiums to return in combination with positive ETF flows. But be aware that the 4 year cycle believers are likely still in the process of offloading and that the trend has shifted to bearish. Not every dip is for buying all the time. Having cash on the side never hurts, even if everything goes up again at some point in time.(Daan Crypto Trades)