Can we see a bottom, then another bottom, and then another one? Of course! What surprises me is the crowd consensus that we must go lower. According to some metrics people mention, we supposedly haven’t reached “capitulation” levels yet. But I also remember the same crowd mindset in 2025, when everyone was saying we hadn’t reached the top of the market yet because we hadn’t hit some “euphoria” level. So it feels like a game of extremes — always swinging from one side to the other. And that looks a bit strange. The market doesn’t owe anyone anything, and with the arrival of Trump we can see that institutions are playing their own game, following their own rules, without really caring about things like 4-year cycles, halvings, and so on. $BTC