Analyst: The current pullback of Bitcoin is only 47%, far below the historical bear market levels

According to analyst Darkfost (@Darkfost_Coc), Bitcoin is currently recording a 47% drawdown (based on daily closing prices), which is far below historical bear market levels.

The bear market in 2012 set a historical record with a drawdown of over 90%. Over time, the drawdown magnitude of Bitcoin bear markets has shown a trend of gradual reduction. If this pattern continues, it is reasonable to expect future drawdowns to be in the range of 60% to 70%.