According to @Andre_Dragosch, Bitcoin’s risk-reward is skewed to the upside as short-term holders have capitulated and sentiment is shattered, framing a constructive setup for BTC; source: Andre Dragosch on X, Dec 21, 2025. He notes BTC has dipped below its previous cycle all-time high only once, during the FTX collapse, implying deeper cycle breakdowns are historically rare; source: Andre Dragosch on X, Dec 21, 2025. He highlights 75,000 as a potential downside test aligning with MicroStrategy’s (MSTR) cost basis, which he characterizes as fire-sale valuations if reached; source: Andre Dragosch on X, Dec 21, 2025. He disputes Fundstrat’s internal outlook for H1 2026 that projects BTC at 60k–65k, ETH at 1.8k–2k, and SOL at 50–75, stating that view will not age well; source: Andre Dragosch on X, Dec 21, 2025.