The drop in Bitcoin prices has some investors concerned about the potential end of the bull cycle. However, assessing the market cycle solely based on the current correction may be premature, as many on-chain indicators remain positive.

New investors who entered when Bitcoin reached its historical peak are facing losses, with a realized price of $98k. Meanwhile, those who participated 1 to 3 months ago have a realized price of $71k, and it is unlikely that prices will drop to this level.

During the bull market of 2021, Bitcoin frequently set new highs and underwent significant corrections before the cycle ended. Prices often dipped below the realized price of short-term investors but subsequently recovered, indicating that corrections do not necessarily signal the end of the cycle.

Short-term SOPR analysis shows new capital inflows but not significant profits, unlike the strong sell-off at the peak of the previous cycle. This suggests that the current correction may only be temporary.

For investors who have not yet participated, this could be a good opportunity to buy Bitcoin at a discounted price. Instead of a short-term sell-off, long-term investment strategies and DCA should be considered.