In any other cycle, the consensus would be clear: this is a bear market.
Weekly bearish market structure breaks on $BTC, $ETH,
$SOL - and basically everything else.
Extraction, grifters, protocols disappearing, lower highs and lower lows. The list goes on.
The pain of this cycle, and the fact that alts never really had a chance to run, has turned decent traders into hopers.
People who would have been rational in past cycles are now clinging to hope.
A truly brutal cycle.