Core Insights - The article discusses the potential for a Bitcoin correction in the short term versus a macro trend change that could lead to a bearish outlook in the medium to long term [1] Group 1 - The analysis focuses on the narratives that influence the Bitcoin market [1]

Core Insights - Bitcoin is experiencing significant weakness compared to the stock market and commodities, leading to discussions about a potential "Great Bitcoin Crash of 2025," despite only being down 6% for the year and 24% over the last three months [1][2][4] Performance Analysis - Bitcoin's recent performance has been poor, but the current decline does not qualify as a crash when viewed in the context of its historical performance [3][5] - Investors who chose Bitcoin over safer assets like gold or index funds have missed out on substantial growth, contributing to a sense of regret among holders [4][6] - Historically, Bitcoin has experienced bear markets with peak-to-trough declines of around 80%, while the current 24% decline appears more like a typical correction [5][6] Market Sentiment - The emotional response to Bitcoin's recent downturn is heightened, leading to the perception of a crash, despite the decline being relatively mild compared to past bear markets [4][6] - The recent flash crash on October 10 was largely attributed to excessive leverage in trading altcoin derivatives rather than Bitcoin itself, which adds to the ominous sentiment surrounding the cryptocurrency [7]

This Bitcoin correction feels worse than previous 30% corrections is because altcoins have underperformed the last 12 monthsIn the past alts would out perform BTC on the way up than out perform on the way downNow they just underperform on the way up & down ...