#Bitcoin did not lose half of its "value" since the peak of the last bull market.

Bitcoin's "value" is at an all-time high (hash rate ATH, growing level decentralization, record number of addresses holding 0.1 to 1 BTC, regulatory uncertainty dropping, growing institutional adoption with ETFs around the corner, growing share of renewables used to mine, ESG narrative finally settling, etc.); only the market price still needs to reflect that.