Analyst: The current market trading sentiment is significantly lower than during the bear market bottom in December 2022

According to Odaily Planet Daily, on-chain analyst Yu Jin posted on the X platform stating that the current market trading enthusiasm is already much lower than even the bottom of the last bear market (December 2022). This is despite the fact that the prices of several major coins are still far above their levels at that time.

BTC: During the last cycle bottom, the average daily trading volume of the BTC/USDT pair on Binance was around $2 billion. Now, it is only about $500 million. The current price is 4.5 times that of the last bottom. The last cycle saw a correction of -75%, while this cycle has seen a decline of -38% from its peak so far.

ETH: During the last cycle bottom, the average daily trading volume of the ETH/USDT pair on Binance was around $400 million. Now, it is only about $200 million. The current price is 1.7 times that of the last bottom. The last cycle saw a correction of -75%, while this cycle has seen a decline of -54% from its peak so far.

BNB: During the last cycle bottom, the average daily trading volume of the BNB/USDT pair on Binance was around $50 million. Now, it is roughly at the same level. The current price is 2.7 times that of the last bottom. The last cycle saw a correction of -65%, while this cycle has seen a decline of -50% from its peak so far.