Bitcoin crashed overnight to about $77k. From its ATH of $126k on 7 October 2025, we have experienced about 40% drawdown. Won’t surprise me if we test the $70k support at some point. This $70k support better hold as this was the previous cycle ATH. Usually we won’t go below the previous cycle ATH, but on a percentage basis, we are nowhere near the lowest yet. 70% drawdown (which is normal) will bring us to about $38k. Hope we won’t see this 70% drawdown but this bear cycle feels like we are living the 4 year Bitcoin cycle simulation again(Bobby Ong)