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But we saved everything 🙂.
Joe Consorti notes that Bitcoin was the first major macro asset to reach its peak during the current market cycle, having done so in October.
He adds that Bitcoin’s typical behavior throughout cycles is to be the first asset to top, the first to bottom, and the first to recover, preceding other asset classes such as equities.
Consorti previously highlighted that Bitcoin’s decline followed a $19 trillion surge in AI market capitalization, which redirected liquidity toward new IPOs here. He has also discussed Strategy’s sustained accumulation of Bitcoin, with the firm converting high-growth BTC assets into fixed income here. These developments add context to Bitcoin's positioning in the current cycle.