【Analysis: Previous bull markets have experienced at least three 20% declines, this pullback has not yet reached that】Golden Finance reports that Larry Cermak, CEO of The Block, pointed out in The Scoop podcast that previous crypto bull markets have seen at least three 20% declines. He stated, "Even the recent decline has not reached 20%. In historical bull markets, this situation usually occurs once or twice, sometimes even three times. It can clear out over-leveraged positions in the market and build momentum for the next round of increases." Larry Cermak added, "Clearing out excessive leverage is beneficial. Of course, bull markets often end in this way."