- Bitcoin holds above $100K with a -4.7% drawdown, signaling a mature, resilient bull market amid low volatility.
- Each deep correction in 2024 sparked fast recoveries and stronger rallies, indicating sustained buyer conviction and trend strength.
- Stable support at $96K and narrowing pullbacks show consolidation strength, positioning BTC for a potential breakout past $106K.
According to analyst Axel’s post on X, Bitcoin’s bull market is intact despite brief corrections, with current metrics signaling continued strength above the $100,000 level. Since the cycle began in October 2022, BTC has posted a 400% gain from its $20,000 base. Recent price action shows consolidation between $100,000 and $106,000, while drawdowns remain minimal. Notably, the current drawdown sits at -4.7%, supporting the market’s resilience.
Deep Corrections Gave Way to Strong Rallies
During this multi-year upward trend, Bitcoin has only seen two declines. In April 2024, the decline took place bringing prices down to $60,000. Then also bottoming took place at about $50,000, which came in August 2024. Despite both retracements above 30%, the rising trend remained intact.
Source: AxelAdlerJr
Recovery from each decline happened swiftly. Within three months, BTC reclaimed previous highs. These retracements marked classic accumulation zones that triggered renewed bullish impulses. Moreover, each pullback was followed by a stronger and more sustained rally phase.
Shrinking Volatility Reflects Market Maturity
Since late 2024, Bitcoin’s volatility has decreased. Besides, the amplitude of pullbacks continues to narrow. The 168-hour simple moving average of drawdowns now hovers near -7%, confirming a steady and calm consolidation phase.
Additionally, the chart shows BTC within a healthy range for a bull cycle. In most cases, dips have stayed between 10-20%, which signals traditional shake-outs. These moves removed weak hands without altering the long-term trajectory.
Importantly, support at $96,000 continues to hold firm. Consequently, buyers have stepped in consistently during minor corrections, adding confidence to the trend’s sustainability. This strong base suggests growing market maturity and decreasing fear-driven reactions.
Given current price stability and minimal drawdowns, Bitcoin appears poised for another upward impulse. Moreover, the lack of negative news and ongoing accumulation support this scenario.
