Was $53.5k the Bitcoin bottom ?

#Bitcoin    has recorded its deepest drawdown for the current cycle.

Currently trading more than -26% below the ATH.

This downtrend has been notably shallower than previous cycles.

In the 2011–13 bull market

🔻 The maximum drawdown was 71%.

In the 2015–17 bull market

🔻 The maximum drawdown was 36%.

In the 2018-21 bull market

🔻 The maximum drawdown was 63%.

In the 2023-24 cycle

🔻 The maximum drawdown to date is 26%.

Do you think we are going to see more such huge dumps during this cycle? 👇