Bitcoin dropped to 21-month lows in late June. It's back above $66,000 this week. The people who sold near $58,000 are now buying back at $66,000, which is what bottoms feel like from the inside. The people who hosted miners through it didn't face that decision.The machines produced $BTC at a fixed hosting rate through the entire drawdown. There was nothing to click, no bottom to predict, and no re-entry to time. This is the structural advantage nobody talks about at the bottom because it only becomes visible afterward. Same Bitcoin. Very different experience of the same market.
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