A bull market has its bull market stories, and a bear market has its bear market stories. During the bull market, MicroStrategy buys, BlackRock buys, Tether buys, the U.S. government buys—every institution buys regardless of cost, chasing at any price no matter how high. During the bear market, ETFs see net outflows, MicroStrategy announces selling coins below cost—if the price isn’t right, they start selling without hesitation. All are stories, all are fascinating.