Both

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The 3 examples I gave can withstand 10x+ the $ sell volume that Bitcoin is seeing now. Literal billions in 1 order.

I could also find examples of markets with similar standard deviation/max drawdown/beta/volatility metrics that trend upwards over 5+. Early Amazon stock price action is one that comes to mind. Bitcoin may be alone when it comes to maintained elevated volatility yet sharp uptrend for 12+ yrs. I may try to research that with a screener later.