BTC's maximum drawdown in this bear market is only 53%

Setting a record for the shallowest bear market drawdown in history
In previous bear markets, B's drawdowns generally ranged from 77% to 93%
The range involved multiple halvings and re-halvings
The severity of the market conditions far exceeded this cycle
This data clearly points to two core changes
First, a large amount of institutional funds entered the market to provide support
Directly causing a systematic long-term decline in BTC's volatility
It is now difficult to see the kind of
extreme crashes of over 20% in a single day that occurred in the past
Second, the underlying structure of the entire crypto market has completely changed
The deep bear market script of complete liquidity evaporation in the past
will become increasingly hard to repeat in the future.
But a shallow drawdown must not be taken directly as a bullish signal
A small drawdown does not mean that the downside space has been exhausted
It only indicates that during the price decline
there is always supporting capital entering the market to provide a floor
It is difficult for bears to create extreme deep drops in one go
In the future, it is highly likely that a long period of sideways grinding
will gradually complete the chip washout of the bear market. $BTC