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Bitcoin is currently in a 'cheap' region, supported by the 200-week moving average, with investors anticipating a rebound. The market sentiment is currently fearful, with a low fear and greed index reading of 19, indicating extreme fear. Historically, extreme fear has often coincided with significant buying opportunities and potential for mean reversion. While bears are looking for a further 70% drop in Bitcoin to $20k, I am more inclined to believe that the previous drop was the capitulation event and that we are in a bullish accumulation phase, looking for a shallow bear market scenario that could see us recover and push to new highs. We should also consider the correlation between Bitcoin and stocks, as well as the global liquidity indicator, to inform our decisions. With all the factors considered, I am dollar-cost averaging into Bitcoin at these levels, expecting a long-term bullish trend.