An early miner says Strategy's stock mNAV has fallen to 0.72, near the level that marked the last cycle's turn, and that bitcoin historically bottoms about six months after that signal.

Strategy (MSTR) plunged more than 10% to a two-year low near $92 as Bitcoin crashed below $60,000, wiping out billions in unrealized gains.

An early miner says Strategy's stock mNAV has fallen to 0.72, near the level that marked the last cycle's turn, and that bitcoin historically bottoms about six months after that…