Glassnode analyzed, "The past 4-year cycle pattern is not working in this Bitcoin bear market." Currently, BTC is rebounding at a level about 30% lower than its previous all-time high, whereas in the past three bear markets, the drop at this point was more than twice as large as now, and only a few weeks remained until the bottom. Glassnode diagnosed that as time passes, the possibility of BTC further declining to the level of past bear market drops is decreasing.
