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Bitcoin Drawdown Analysis Maps a $74,500 Level if Losses Deepen
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Bitcoin’s latest correction has brought a $74,500 historical reference into focus, a new analysis suggests.
Key facts
- The analysis measured a decline from $87,027 on Oct. 5 to $80,404 on Oct. 9, a $6,623 reduction, or approximately 7.61%
- The analyst proposed purchases over time around $80,000 and larger commitments between $74,000 and $75,000
- Average setbacks were 18.41% in 2010-2011, 21.71% in 2011-2013, 10.93% in 2015-2017, 19.39% in 2018-2021, and 7.58% in 2022-2025
- The latest pullback has brought a $74,500 downside reference into focus, according to an analysis published by Cryptoquant on Oct. 9
Summary
The 2022-2025 bull cycle had an average drawdown of 7.58%. Reaching $74,500 would mean another 7.34% drop from the cited low. The analyst proposes larger purchases between $74,000 and $75,000. The latest pullback has brought a $74,500 downside reference into focus, according to an analysis published by Cryptoquant on Oct. 9.