Btc has never dropped below a previous Bull runs ATH. Do you think this time is different?
ATH has had 70%-85% drop every single time. 50% - rally - 50% hence half 38k gets you 19k which is where the CME futures gap just happens to be and in-line with 70% drop.
65k peak
Best case 70% - 19.6k
Worst case 85% - 9.8k
Agree it has never seen a pullback to previous ATH. Problem is look at our run up and we didn’t take a single breath from 19k to 30k. It bottoms at large support areas because that’s where the buy walls are.
Look at 2017 and the first major bottom was 7k post peak, now look to the run up and you see 7k was major support. No different to now.
If we believe ‘can’t go lower than previous ATH’ and negate the chart support zones then the argument should be 30k holds and isn’t broken. Saylor raised 1.6B of junk bonds to create that 30k wall.
do they save MSTr or punish him?