"Moments like these are where conviction is built. They’re easy to overlook in hindsight, but they matter. And when people later say it was “luck,” remember: not everyone is willing to sit through the uncomfortable parts. This is where the work is done.

Bitcoin is once again doing what it always does: confusing expectations while following its own logic. As each cycle unfolds, new theories emerge to explain why this time will be different — why price should only go up, and why the system has matured past volatility. And yet, bitcoin continues to move to its own rhythm."

Good read @Leon 🙏