Bloomberg's "12 Rules of Crypto Winter" hits differently today, especially with Strategy starting to sell coins and bitcoin:native crashing hard. Kinda stings, doesn't it? Over the past two years, almost all of Crypto's core bullish catalysts and strongest buying narratives have played out: The ETF got approved, institutions entered the market, the regulatory environment improved, public companies started hoarding Bitcoin, and even the once-fantastical idea of nations holding Bitcoin as reserves has started to become a reality. According to the last cycle's imagination, once these things happened, the market should've gone like this: BTC pumps, then ETH pumps, then altcoins pump, and finally, the whole market goes parabolic! But now? The market feels lifeless. Everyone's losing money, and there's no hope in sight. Instead, the market is falling into a new kind of confusion: If even these catalysts can't trigger a new full-blown bull market, then what exactly is the growth narrative for Crypto's next phase? Back in 2018, many thought the ICO bubble bursting meant the end of Crypto. In 2022, many thought FTX's collapse meant the end of Crypto. And this time?