1. A recent analysis by CryptoQuant Netherlands' community manager compares the current phase of Bitcoin's price cycle to previous ones.
2. The analysis focuses on post-all-time-high (ATH) bear market periods in each cycle.
3. The chart compares the percentage change in price during these phases, revealing similarities and differences.
4. Although the price action doesn't align perfectly, the percentage drawdowns during bear market phases are remarkably close across cycles.
5. Notably, the cycles tend to align around the time of cyclical bottoms.
6. The assumption is that the November 2022 bottom marked the bear market bottom of the current cycle.
7. While the recovery phases diverge, the crashes of the current cycle and the 2017 cycle coincide closely.
8. If the current cycle follows past behavior, more price drawdown might be expected.
9. Another analysis by analyst Root suggests that the recent crash below the short-term holder cost basis is not unusual in the lead-up to halvings.
10. Bitcoin is currently trading around $26,400, reflecting a 7% decrease over the last week.
