Bitcoin Drawdown History: -30% Is Routine, -55% Is Mid-Cycle, Beyond -77% Marks the Lows

Every drawdown since 2011 on one table: -30% dips happened a dozen times mid-bull, while every true cycle low ran deeper than -75%. How drawdown depth serves as a positional coordinate in the thermometer, plus the evidence and traps of the converging-drawdowns thesis.

Every drawdown since 2011 on one table: -30% dips happened a dozen times mid-bull, while every true cycle low ran deeper than -75%. How drawdown depth serves as a positional coordinate in the thermometer, plus the evidence and traps of the converging-drawdowns thesis.