If you think this is just a regular bear market, then $60K is the bottom. If you think this is a global new liquidity crisis, then falling below $60K is just the beginning of the liquidity crisis. If you think this is the collapse of the narrative logic supporting Bitcoin, then it’s heading toward zero—$10K isn’t even the bottom! Which narrative you stand by determines where you’ll add positions, where you’ll panic, and where you’ll completely exit!