This word has actually never really left the spotlight. In February 2026, when Bitcoin kept falling all the way to $59.9k, some people insisted there would still be one final drop. Later, it rebounded to just above $80k, and the chatter gradually died down. In May 2026, it flared up again. Right after Bitcoin slipped from the $82k to $83k high, it dropped below $77k within days and then swung violently around $76.8k. Those who stick to “cycle” rules pulled out old ledgers and began calculating how much further it would still need to fall this time. The rulers they hold are the retracement percentages from the past three pullbacks. But this time, there are other rulers—on-chain and in the mining farms—and the numbers they measure are different.