322 days since $BTC last ATH at $126,272. Currently at $79,989.

ATH frequency by cycle:
2010: 11
2011: 28
2013: 35
2017: 67 (peak euphoria)
2020: 11
2021: 23
2024: 21
2025: 12 YTD

We're in a consolidation phase. Lower ATH frequency = healthier base building. The 2017 peak of 67 ATHs was pure mania. Current pace suggests we're not overheated yet.

Watch for liquidity influx and macro tailwinds to break the 322-day drought. Patience pays in crypto.