What Matt from Bitwise says here fits exactly my thesis:

As we have entered a new level of adoption with the #Bitcoin ETFs, the 4Y cycle will flatten.

We most probably won’t see a -80% drawdown next bear market. Buying the dip will kick in earlier, since the value proposition of BTC is clear to more people with big bags now. Bitcoin and its drawdowns/dips is much more visible now.

What do you think?