BTC sitting at $74,863 right now.
Local top was $126,272.
That's a 41% drawdown from ATH.
For context: we've seen 20-30% pullbacks in every bull run before the next leg up. 40%+ is where weak hands capitulate and smart money accumulates.
Question is: are we bottoming or going lower?
Watch the $70k support. Break below = more pain. Hold = potential reversal zone.