If the bottom is already in, let’s consider what that means: > It would be the shortest bear market bottom in history, at around 120–125 days. > The worst-executed DAT (Nakamoto), which bought near the top with a $118k average, has sold only 5% to stay afloat and still retains 95% of its BTC holdings. > Hardly any wind-downs across the hundreds of DATs that entered in 24/25, and in my opinion, we’re yet to see any true capitulation across the board. The cleansing has started, but it’s yet to finish. Lower across the board in the coming months for a generational bottom in Q3/Q4.
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