From the HODL indicator, Bitcoin's current cycle peak indeed did not surpass the 2021 level. This actually reflects an interesting phenomenon — each bull market top seems to lower the previous cycle's record. The pattern of decreasing peaks is very evident in on-chain data, which may be worth traders paying more attention to when developing strategies.

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ZKProofster

· 01-05 06:25

ngl the "decreasing peaks" narrative is literally just survivorship bias dressed up as on-chain gospel. hodl metrics don't account for actual market structure changes, which is... technically speaking, a significant oversight.

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MetaverseMigrant

· 01-03 18:30

The thing about decreasing peaks, honestly, is that there are fewer and fewer retail investors. Do you really expect the next round to break new highs? You're overthinking it.

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P2ENotWorking

· 01-02 23:22

Peak decline? Sounds like the market is gradually losing momentum, but it could also just be a change in the trading cycle.

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StableGenius

· 01-02 08:49

so the on-chain data basically confirms what i've been saying... declining peaks every cycle. contrary to popular belief, most traders still don't get this pattern, tbh

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rekt_but_not_broke

· 01-02 08:48

I'm already tired of the downward trend at the highs. Every round it's the same thing, what else can be done?

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ChainWallflower

· 01-02 08:44

Uh... why do these numbers look a bit pessimistic? Are the peaks getting lower and lower each round?

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MissedAirdropBro

· 01-02 08:40

Peak decline? Doesn't that mean each round is worse than the last? That would be really heartbreaking.

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SorryRugPulled

· 01-02 08:39

Uh... so this time didn't break the previous high again? Feels like every round is just repeating the same script.

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BrokenDAO

· 01-02 08:33

Peak decline? This is just a sign that the market consensus is gradually breaking down, nothing surprising.

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fomo_fighter

· 01-02 08:31

The thing about decreasing peaks, to put it simply, is that it's becoming harder to harvest the retail investors. Institutions need to come up with new tricks.

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