Analyst: Current market trading enthusiasm is much lower than the bear market bottom in December 2022

Odaily Planet Daily News: On-chain analyst Yujin stated on X platform that the current market trading enthusiasm is now much lower than the bottom of the last bear market (December 2022). This is despite the fact that the prices of several major mainstream coins are still far higher than they were at that time.

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

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

BNB: During the last cycle's bottom, the average daily trading volume of BNB/USDT was around $50 million, and it is currently around the same level. The current price is 2.7 times that of the previous bottom. The last cycle saw a correction of -65%, while this cycle has seen a drop of -50% from its peak so far.