(PRO/ELITE) The Mirage Peak – Why Bitcoin May Top at $120K Before a Historic Collapse

🎯 Executive Summary

Despite what appears to be a dream macro setup—U.S. fiscal expansion, falling interest rates, and record ETF flows—Bitcoin may be nearing a generational liquidity trap. Our thesis: $120,000 could be the high watermark, and rather than entering a supercycle, Bitcoin may experience a catastrophic 80–90% decline similar to 2013, 2017, and 2021.

Below are three pillars of this contrarian view, backed by historical analogs and current data signals.