Started at close to ATH. Every other cycle was 50% or less. If you take into account the front running it's like being at 200K. Still lower, but on trend.
Discussion
Trend intact?
NFI, definitely flatter draw down. Can't see anyone big loosing their pants. But with gold roaring the central banks need to balance defending the dollar and not crashing the economy. Everyone is rushing to gold anticipating rate cuts. Speculators need to get liquidated. I think it will be hard to get enough dollars to stack for a while until something breaks and they are forced to change. How long? IDK, feels hard already.