→ Miner breakeven sits at ~$69–74K right now → Historically BTC bottoms slightly below miner cost then reverses → We’re already in that zone
→ FTX was the last big black swan $32B collapse, contagion everywhere → No comparable catalyst exists right now → Absent a major systemic shock, this is the flush
→ Institutions are in via ETFs baseline demand floor is structurally higher than any previous cycle → They’re not exiting. They’re accumulating at these levels.
The data points to 60–70K as the real floor zone.
I’m DCA-ing here. Not all in. Sized for volatility.