The analysis identifies a recent 35% drawdown in Bitcoin's price, highlighting that such corrections are normal in bull markets. It notes an anomaly: Bitcoin dominance didn't increase during this dip, indicating selling pressure specific to Bitcoin, with a likelihood of a single large entity selling off Bitcoin. There's is the mention of a leverage flush on October 10th. The analysis suggests that the next big resistance for BTC is to get back above the 50-week moving average, setting the scene for further evaluation as a Bull or Bear market. Also the cost of production red line has been held during both Covid, and FTX times, which currently stands at $70,015. Then they note a bull, medium and bear case in the coming 3-4 months.