Pattern alert: Black Swan events consistently hit during the second half of $BTC bear markets.

Not a coincidence. It's the structure.

When everyone's already beaten down and capitulation feels complete, that's when the real rug pull comes. Luna. FTX. Celsius. All hit when bears thought the worst was over.

We're not immune this cycle. Stay liquid, keep dry powder, and don't get comfortable just because we've already bled 60%.

The final flush always comes when you least expect it.