Cryptocurrency analyst: Bitcoin's current correction level is still below the average

Odaily News Analysis by cryptocurrency analyst Rekt Capital shows that since the bear market bottomed out in November 2022, Bitcoin has experienced six major pullbacks, all of which are more than 20% deep. These pullbacks occurred in February 2023, April-May, July-September, January 2024, March-April, and May-June, with pullbacks ranging from -16% to -23.7%. So far, Bitcoin's pullback depth is -16% and has lasted for 35 days, which has not yet reached the average pullback depth of -22% and the average duration of 40 days for the cycle. Therefore, the current pullback is still below average in terms of both depth and duration.