Bitcoin has bottomed. Don't know where but the people still thinking there's going to be a winter missed where the pump and dump was. It wasn't in the spot price; it was in the inflated mNAVs of the treasury companies, e.g. MSTR, Metaplanet, XXI, etc., and the collapse of those premiums WAS the winter. When it all starts moving up again is anyone's guess, but the market structure has changed. A lot of the new buyers are going to be purchasing the ETFs or spot, they'll be from within the financial system. Bitcoin and tradfi are integrating, and most of the new money for the next pump is actually going to go into the perpetual preferreds to get a yield as bond-like products. That BIG money doesn't want the spot or volatility exposure, but they do like 9-13% yield!!! It'll be all these BTC treasury companies that have reset to sub-1.0 mNAV and are ready to launch. Gold and silver had a massive year in 2025, some of that will also come, but it's not the BIG money from real estate, bonds, and collapsing international currencies. Once the US reprices national Gold Reserve from static number in what? ~$40 or so to $4000+ that'll be a good sign that shit is happening. Don't wait for that. That could be further down the road as a trigger that isn't 1st in line at the moment.