Looking at the pattern of FUD cycles heading into 2026:
Jan - Tariffs panic
Feb - Geopolitical escalation fears
March - Quantum computing threat narratives
April - $USDT stability concerns resurface
May - Saylor/MSTR leverage questions
June - Strategic reserve debate intensifies
The playbook is predictable at this point. Each macro fear cycle creates temporary drawdowns, retail capitulates, then smart money accumulates. We've seen this movie before - regulatory FUD, China ban FUD, energy FUD, now it's just rotating through new characters.
The real signal isn't the FUD itself, it's how quickly $BTC recovers from each wave. If institutional adoption continues (ETFs, corporate treasuries, potential sovereign buyers), these dips become shallower over time. The question isn't whether FUD happens - it always does. The question is whether the structural bid underneath gets stronger or weaker.