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🚨 BITCOIN’S SOFTEST BEAR MARKET YET?
Each cycle, BTC drawdowns keep shrinking:
• 2011 → -93%
• 2013–15 → -83%
• 2017–18 → -83%
• 2021–22 → -76%
• 2025+ → -32% (so far)
📉 Sellers are weaker. Holders are stronger.