Everyone's been watching quantum headlines, but that's not how bottoms actually form.

The real signal is a three-way convergence I've tracked across every major cycle:

1. Price drops to realized price (the average cost basis of all coins on-chain)

2. MVRV-Z ratio collapses toward zero

3. Supply-in-loss spikes hard

This exact pattern marked the bottoms in 2011, 2015, 2018, and 2022. Not headlines. Not sentiment polls. Just raw on-chain data.

If you're waiting for a news event to tell you when to buy, you're already late. The bottom shows up in the blockchain first.