Bitcoin's Pullback Narrows, Cycle Low Gains Decline

The Bitcoin market has experienced multiple cycles over the past 18 years, but the extent of pullbacks has gradually narrowed. The maximum pullbacks for BTC in 2014, 2017, 2020 to 2021, and 2024 to 2025 were 85%, 84%, 77%, and 53%, respectively. Alex Thorn, head of research at Galaxy Digital, pointed out that the current BTC pullback is significantly smaller than in previous cycles. Analyst Willy Woo suggested that Bitcoin may be transitioning from a four-year cycle to a six to eight-year cycle, although this assessment has yet to be confirmed. The gains from each cycle's low point to the next historical high were 580 times, 130 times, 22 times, and 8 times, respectively. Analyst James Check noted that Bitcoin's price bottom is gradually rising, while the top remains relatively stable; Jesse Myers believes that BTC may have just entered a bull market lasting 2 to 3 years.

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