Bitcoin's Normal Retracement Path Toward $50,000 - As good as it gets in 2025 may be a top headwind for the first-ever, second consecutive down year in Bitcoin history in 2026. The graphic shows how normal it would be for the first-born crypto to revert toward its enduring pivot since 2021 around $50,000. If S&P 500 180-day volatility stays at 11%, this year will be the lowest since 2017. My view is probabilities favor the over, with implications for all risk assets, particularly Bitcoin. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/t9tw6akip3jw {BI COMD} #bitcoin #stockmarket @markets(Mike McGlone)