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CryptoQuant Analyst: BTC Has Retraced Around 12% from Its New High, Which Is Completely Normal and Has Not Yet Exceeded the Historical Average Correction of 20% to 25%
BlockBeats News, September 2nd, CryptoQuant analyst Darkfost stated that Bitcoin has retraced by about -12% since its last all-time high, which is within a normal range. In the current bull market cycle, the largest retracement since hitting an all-time high for the first time in March 2024 was -28%, with the average retracement ranging from -20% to -25%.
The analysis points out that this retracement has not deviated from historical patterns and may continue to remain within a healthy range. Such retracements typically help in clearing excessive leverage in the derivatives market during a bull market, alleviating overheated sentiments, and providing new entry opportunities for long-term investors.
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