yeah no new no coiners this cycle and people from 2020 just sit in the sidelines waiting for profits that were slim. This cicle was about bitcoin treasuries and i think those with more regulation over exchanges after ftx turned the cycle very boring, low volatility, no ftx and alts scams or new hypes, ETFs and companies probably buy most of it in a way that doesn't move the price, Strategy business plan is removing volatility from btc exposure, and a cycle without volatility becomes boring and doesn't cause fear of missing out and crazy gains. I think now it's the time to increase merchant adoption because this cycle is low vol and no ftx like scams so it can work on our favor.