PANews reported on September 2nd that CryptoQuant analyst Darkfost stated that Bitcoin has pulled back about -12% since its last all-time high, which is within the normal range. In the current bull market cycle, since the first all-time high in March 2024, the maximum pullback has been -28%, while the average pullback has been between -20% and -25%. Analysts pointed out that this pullback did not break through the historical pattern and may continue to remain within a healthy range. Similar pullbacks usually help to clean up excessive leverage in the derivatives market during a bull market, ease overheated sentiment, and provide new entry opportunities for long-term investors.PANews reported on September 2nd that CryptoQuant analyst Darkfost stated that Bitcoin has pulled back about -12% since its last all-time high, which is within the normal range. In the current bull market cycle, since the first all-time high in March 2024, the maximum pullback has been -28%, while the average pullback has been between -20% and -25%. Analysts pointed out that this pullback did not break through the historical pattern and may continue to remain within a healthy range. Similar pullbacks usually help to clean up excessive leverage in the derivatives market during a bull market, ease overheated sentiment, and provide new entry opportunities for long-term investors.
CryptoQuant: BTC's 12% pullback from its new high is completely normal and has not yet exceeded the historical average of 20-25% decline
PANews reported on September 2nd that CryptoQuant analyst Darkfost stated that Bitcoin has pulled back about -12% since its last all-time high, which is within the normal range. In the current bull market cycle, since the first all-time high in March 2024, the maximum pullback has been -28%, while the average pullback has been between -20% and -25%.
Analysts pointed out that this pullback did not break through the historical pattern and may continue to remain within a healthy range. Similar pullbacks usually help to clean up excessive leverage in the derivatives market during a bull market, ease overheated sentiment, and provide new entry opportunities for long-term investors.
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