$BTC Are bear markets getting less severe over time? Percentage-wise, yes, that's been the trend.

86%, 84%, 77%.

Data-wise, no. Unlike cycle tops which show a clear diminishing across nearly all data, cycle bottoms have been very consistent.

Logarithmic MVRV is not at cycle bottom levels. The very accurate and more conservative cycle bottom target of the Realized Market Cap MA, 42.5k, has not been reached.

A move there would be a 66% drop which is still over 10% less than last cycle's bear market.

And again, more aggressive cycle bottom targets like the magic band's low 30k's are not off the table.