US stocks just hit a new all-time high, and Bitcoin? It's dropping. Not pumping. Classic divergence. We're waiting for the US stock rally to exhaust itself, then enter a choppy decline phase. When that happens, Bitcoin is likely to take a serious hit. The macro trend is still bearish. Look at historical cycles. No exceptions. At these levels, there's no reason to panic, but also no reason to buy. Bitcoin simply isn't cost-effective compared to other assets right now. We're not even close to the bottom grinding phase. Even at 60k, people were still calling for bottoms. You need to understand that the next big wheel rotation won't have many more pumps left. Patience is key. At minimum, we need to see three major washouts. Realistically, entries below 50k are where it starts to make sense. Trump is back in office and immediately flipped the script, opening a new trade war front. Both Bitcoin and equities are getting hammered. At this point, the chart is begging for a black swan event to accelerate the drop. A 50% cut from here? That puts us in the 40k+ range. Funding rates have turned positive again. Longs are slowly adding during the dip, which is actually a good setup for shorts. Right now, longs are paying fees to shorts. Spot ETF flows remain weak. Price and volume are diverging. Whales are consistently selling into strength. The long party is over. The short spring is coming. The scale of the drop will be hard to imagine. Expect a 40% decline from current levels.