Analysis: The current BTC trend is very similar to the bear market in 2022, and the price may rebound in Q1 of next year

According to Cointelegraph, economic analyst Timothy Peterson posted on the X platform that the current Bitcoin trend is highly similar to the bear market of 2022. From the daily and monthly perspectives, the correlation of Bitcoin's daily performance this year with that of 2022 is 80%, while the monthly correlation is as high as 98%. If history repeats itself, the true recovery of Bitcoin's price may not occur until the first quarter of next year.

In the past month’s decline, cryptocurrencies have been impacted significantly more than stocks, but signs of a rebound are rapidly increasing. Changes in macro sentiment could still trigger the classic "Christmas rally" for risk assets before the end of the year.