2017, 2021, 2025 - In every bull market, the real big drops never come crashing down at the peak, but quietly begin after the peak has passed.
The true top never appears when the excitement is at its highest.
Look at the current situation:
Hot money is still flowing in, the ETF frenzy hasn't wrapped up yet, institutions are just getting started, the sovereign narrative has only just begun, and even retail investors haven't collectively boarded the train yet.