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Analysis: Cannot confirm that the BTC bottom has formed; the market is approaching a mild bear market.
ME News Report, April 12 (UTC+8), cryptocurrency analyst Axel Adler Jr stated that the current Bitcoin correction appears to be significantly milder than the bear markets at similar stages in the 2017-18 and 2021-22 cycles, but based solely on the current correction magnitude, it is still insufficient to confirm that a bottom has formed.
The maximum drawdown in the 2021-22 cycle was -54%, in the 2017-18 cycle it was -64%, and the corresponding drawdown in the 2013-15 cycle was -43%.
The current market dynamics are closer to a mild bear market, not yet entering a deep capitulation phase, and the bottom cannot be confirmed. A true market recovery still requires waiting.
Analysts believe that this is only a pause in the bear market, not a trend reversal. (Source: BlockBeats)