CandleFocus Bitcoin Drawdowns See Decreased Severity Amid Bull Market Resurgence
2024-12-23
Author: Content Editor
The severity of Bitcoin drawdowns, or periods of price decline, has decreased during the current bull market according to on-chain analytics firm Glassnode. The deepest drawdown in the current cycle was -32% and occurred on August 5th. This reflects a positive development for Bitcoin's growth and suggests a rise in institutional interest. Compared to previous cycles, Bitcoin's volatility has decreased, with most corrections only reaching -25% below local highs. This trend indicates a shift in sentiment towards the crypto sector and the potential for sustainable growth for Bitcoin.
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