$BTC down 29% YoY.

Current: $78,183
1 year ago: $110,136

Price multiple: 0.71x

We're in a confirmed downtrend on the yearly timeframe. If you're not hedged or in stables, you're bleeding. This is where conviction gets tested and most retail capitulates.

Watch for macro liquidity shifts or BTC dominance flips before re-entering aggressively.