I don't feel this like a cycle, though. We've done 7x since 2022, but it felt so fake as a bear market. We reached $69k, obviously it couldn't last because it got hyped up to death.
If something close to $125k is the top, then what's the next bottom? $58k?
It's because 7X is much less than 22X we had in the prior cycle...buy we might still accelerate a bit.