It helps to remember that most of the #bitcoin supply is locked away in self custody and only about 15% of it is liquid on exchanges. When you see market moves, it’s a relatively small amount that’s actually being traded. During extreme price moves, more of it becomes available when HODLers turn into sellers. This happens every cycle, and it’s just a part of the normal distribution process. It’s a fascinating window into human psychology, which is almost as predictable as the issuance rate itself.

Don’t FOMO. Don’t panic. Just watch.