Glassnode: Bitcoin's bear market has broken from the four-year cycle
- —BTC is roughly 30% below its all-time high
- —Drawdowns in the prior three cycles were more than twice as deep
- —Previous cycle lows were still weeks away at this stage
- —Bitcoin's price has already started to recover
Why it matters: If the cycle is shorter and shallower, expectations of a deep drawdown may not materialize, changing entry strategies for investors.
Source: PANews