Bitcoin (BTC) is roughly 80% up from the lows which were put in back November 2022 when Bitcoin was trading around $15,500 during the FTX collapse.
It is important to understand previous cycles in terms of bear market rally performances.
This chart has been broken down into five different cycles, and it appears — based on historical data — that we are playing in a very similar trend.
Whereas in each prior at this exact moment of the cycle, we have put in a similar bear market rally bounce.
2012: 105%
2015: 90%
2019: 79%
2020: 90%
2023: 80%
Bear Market Rally: (Source: Glassnode)