From the HODL indicator, Bitcoin's current cycle peak indeed did not surpass the 2021 level. This actually reflects an interesting phenomenon — each bull market top seems to lower the previous cycle's record. The pattern of decreasing peaks is very evident in on-chain data, which may be worth traders paying more attention to when developing strategies.

BTC2,83%
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StableGeniusvip
· 8h ago
so the on-chain data basically confirms what i've been saying... declining peaks every cycle. contrary to popular belief, most traders still don't get this pattern, tbh
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rekt_but_not_brokevip
· 8h ago
I'm already tired of the downward trend at the highs. Every round it's the same thing, what else can be done?
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ChainWallflowervip
· 8h ago
Uh... why do these numbers look a bit pessimistic? Are the peaks getting lower and lower each round?
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MissedAirdropBrovip
· 8h ago
Peak decline? Doesn't that mean each round is worse than the last? That would be really heartbreaking.
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SorryRugPulledvip
· 8h ago
Uh... so this time didn't break the previous high again? Feels like every round is just repeating the same script.
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BrokenDAOvip
· 8h ago
Peak decline? This is just a sign that the market consensus is gradually breaking down, nothing surprising.
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fomo_fightervip
· 8h ago
The thing about decreasing peaks, to put it simply, is that it's becoming harder to harvest the retail investors. Institutions need to come up with new tricks.
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