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The strongest part of BTC is not the rise.
It's that no one wants to sell.
In 2021.
BTC dropped 20%.
The market began to panic.
In 2022.
BTC dropped 50%.
The market began to despair.
In 2026.
BTC consolidated around $60,000.
The market fell silent.
An interesting phenomenon.
In a bull market, people discuss yields.
In a bear market, they discuss faith.
At the cycle bottom, what is discussed is:
How many people are still alive.
U.S. spot ETFs saw a net outflow of about $1.26 billion last week.
Institutions have clearly become more cautious.
But what is truly worth studying is
that even so,
BTC still hasn't experienced a stampede.
This shows that the chip structure
has completely changed from the past.
bitcoin:native