Market is super measured. Long consolidations and small pumps. The whole cycle theory was based on the idea that you should buy when whales accumulate, sell when retail join. Retail is now pretty much absent. Now we have old whales selling to new whales. Holders at institutional levels are increasing. Bitcoin has matured and while we will continue to have corrections and mini bear “moments”, I think it’s safe to say that extended 70%+ crashes / cycles are OVER. Last night, 30,000 Bitcoin were sold out of Galaxy (moved to Coinbase / Binance) The Bitcoin price sneezed 3k. Imagine a 30,000 Bitcoin sale 10 years ago?