#Gate广场四月发帖挑战 The Bitcoin retracement in this cycle has "significantly narrowed." Fidelity Digital Assets states that during this market cycle, Bitcoin has fallen approximately 50%, much less than in previous cycles, and this trend may continue long-term.

Historically, after reaching new all-time highs, Bitcoin's retracements have been severe, generally around 80% to 90%. In this cycle, the retracement is only about 50%. From the price performance after each historical peak, it is clear that Bitcoin exhibits a pattern of diminishing returns across cycles. Each bull market's explosive growth is weaker than the previous one, and the downside risk in the current cycle through 2026 has also been greatly reduced.
Data shows that Bitcoin touched the cycle low of just above $60,000 on February 6, 2026, a 52% retracement from the all-time high of approximately $126,000 on October 6, 2025. Currently, the price has fallen 46% from the peak six months ago. The previous cycle's decline was even more dramatic: Bitcoin dropped from a historical high of $69,000 in June 2021 to below $16,000 at the bear market low in November 2022, a total retracement of 77%.
Market sell-offs have already completed 90% to 95%, making it an ideal entry point. On April 1, Cointelegraph reported that Tom Lee, Chairman of Ethereum Treasury Company BitMine, stated that the market sell-off has already completed 90% to 95%, and now is the time to enter. His judgment is based on the resilience of the U.S. economy and the fact that inflation-adjusted oil prices remain below historical highs.