Bitcoin on verge of largest ‘price drawdown’ of the bull market — Analyst

One analyst says Bitcoin price is close to locking in the deepest correction of this cycle, but how does it compare to previous bull and bear market drawdowns?

Bitcoin’s (BTC) 26.62% decline from its $109,500 all-time high is en route to becoming the deepest drawdown of the current bull market cycle, according to CryptoQuant head of research, Julio Moreno.

Bitcoin price drawdown analysis. Source: X

Bitcoin has experienced significant drawdowns in past cycles, with a notable 83% drop from its peak in 2018 and a 73% correction from all-time highs (ATH) in 2022. In comparison, the current decline of 26.62%, while substantial, remains less severe than previous bear markets.

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