Buying at $5K sounds nice while the market is trading at $33K, but if it really went there, it means something is very, very wrong. That would be the steepest decline since the 2011 bubble pop, which occurred after much, much larger gains than the current run.

Losses like that should not occur unless there are serious existential threats to Bitcoin that shake investor confidence significantly more than it was shaken in 2018 or 2014. Anything is possible, but Wall Street's entry into the market indicates the exact opposite. Bitcoin is becoming less risky, less speculative, and increasingly less likely to simply crash to $0.

That's what the market is saying. So in all likelihood, any crash would be absorbed long before $5K. As I've said elsewhere, I think $24K is the maximum downside, whether from here or in the next bear market. And that number will continue rising as BTC continues making new ATHs.