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

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

The bear market of 2012 recorded a historic drawdown of over 90%. Over time, the drawdown magnitude of Bitcoin's 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%.