The 5th issue of the Bitcoin Intelligence is now live on the website. - Correction has only been moderate historically and not a deep capitulation. - Long-term holders remain strong, with minimal unrealized losses. - Macro signals turning deflationary: inflation at 1.2%, oil prices falling. - 40B hedge fund sell-off + retail panic shows fragile sentiment. - Without fresh demand, deeper drawdowns across assets remain likely. https://account.21stcapital.com/blog/the-extent-of-the-damage Written earlier today at 5 pm Eastern Time.