Bitcoin Drawdown at 49% Less Severe Than Previous Cycles – Galaxy Research
Bitcoin is currently down about 49% from its cycle high, a drawdown significantly milder than the 70%–90% crashes observed in prior market cycles, according to Galaxy Research.
BTCUSD
According to a recent note from Galaxy Research, Bitcoin's current drawdown from its cycle high stands at roughly 49%. This decline is notably less severe than the 70%–90% pullbacks typical of previous Bitcoin market cycles.
While the percentage drop is smaller, researchers point out that the magnitude of the correction is still significant in absolute terms. The analysis does not specify a timeframe for the current cycle or make price predictions.
Source: Cointelegraph