Bitcoin's cycle has a brutal rhythm: Halving → New all-time high the following year → Bear market retraces to the previous cycle's high • 2016 halving → 2017 new high ~ $20k • Then bear market retrace (2018) • 2020 halving → 2021 new high ~ $69k • 2022 bear market ~ $15.5k (fell back to 'previous cycle's high $20k') • 2024 halving → 2025 new high ~ $124k • 2026 bear market retraces to at least $69k (already $73k) Don’t forget, alts are basically high beta versions of BTC. BTC drops 10% → ALTs drop 20~50%