Bitcoin's realized price has repeatedly marked cycle bottoms throughout history—a pattern worth examining closely.

Looking back:
• 2018 bear market: -60% from peak
• COVID crash: -72% carnage
• 2022 downturn: -77% washout

Now with realized price sitting at $56K, the math gets interesting. This level suggests a potential ~55% correction from recent all-time highs could represent a significant cycle floor.

Historical precedent shows these realized price levels aren't random—they tend to converge with where buyer conviction typically re-emerges. Whether BTC actually tests that zone remains an open question, but the pattern is undeniably consistent across cycles.