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There is still a lot of data pointing to this being a mid cycle correction.
I understand that thus far, Bitcoin has followed the usual path of the 4 year cycle very closely.
But when you look under the surface and delve deeper into the wider market, you see that within this current cycle, Bitcoin is the only asset actually following it.
And yes, I get it, it is Bitcoins 4 year cycle.
But what you also cannot ignore is that within every other cycle, the wider market has also followed Bitcoin in every way.
And what we are currently presented with here is a very interesting situation.
Right now things look like this:
Bitcoin - Full cycle
Wider market - Mid cycle correction
And that is captured here very clearly with ETH/BTC.
ETH/BTC is in the same position it was during Bitcoin mid cycle correction in 2019.
And the same goes for everything else.
I understand it is hard to see something that hasn't played out yet, especially when comparing it to the reality of Bitcoins position.
But I believe the wider market is telling the real story, and Bitcoins current moves, albeit similar to the 4 year cycle, will actually end up playing out very differently.
Everything else points to a lengthened cycle.