CryptoQuant analyst says Bitcoin's current pullback is relatively mild, with the historical average implying approximately 74,500 USD
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AT A GLANCE
The analyst says Bitcoin's current pullback is approximately 7.61%, and if estimated using the historical average pullback, the price would be approximately 74,500 USD。
Article
Analyst: Bitcoin's current pullback is relatively mild; if the historical average pullback is applied, the corresponding price would be approximately 74,500 USD BlockBeats news,October 9, CryptoQuant analyst MAC_D posted that Bitcoin fell from its October 5 high 87,027 USD to October 9 low 80,404 USD, a pullback of approximately 7.61%, close to the average pullback of the 2022 to 2025 bull-market cycle, but still below the overall historical average pullback of 7.58%.
The Bitcoin Bull Market Cycle Drawdown indicator compares the decline in price from stage highs across different bull markets. Among them, the average pullbacks from 14.39%to 2010; from 2011 to 2011; from 2013 to 2015; and from 2017 to 2018 were respectively 2021 18.41%、21.71%、10.93%and 19.39%, making the pullback in the latest cycle relatively mild.
He noted that if the overall historical average pullback of 14.39%is applied to the recent high, the corresponding price would be approximately 74,500 USD, which can serve as a reference in the event of further downside. He believes investors may consider gradually accumulating 80,000 USD near BTC, and increasing buying in the range of 74,000 to 75,000 USD.
Original link https://m.theblockbeats.info/flash/371000
Key points
01
Bitcoin fell from October 5 high 87,027 USD to October 9 low 80,404 USD。
02
This pullback is approximately 7.61%, close to the average pullback for the bull-market cycle from 2022 to 2025 years 7.58%。
03
This pullback is below the statistically determined overall historical average pullback 14.39%。
04
Applying the overall historical average pullback of 14.39%to the recent high gives a corresponding price of approximately 74,500 USD。
05
The analyst recommends that investors consider gradually accumulating 80,000 USD near BTC, and increase buying in the range of 74,000 to 75,000 USD.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This news compares the magnitude of Bitcoin's current decline with historical pullback data. The analyst believes that the magnitude of the current pullback is close to the average level for bull-market cycles in recent years; 74,500 USD is a reference price calculated using the overall historical average pullback, not a price that has been determined to be reached.
Why it matters to readers
This provides a historical-data perspective on reference prices when observing further Bitcoin declines, but the related buying recommendation represents the analyst's view.
A pullback is the magnitude of a price decline from a stage high. The historical average pullback can only help investors understand a possible price range; it cannot guarantee future trends or returns.
Risks and unknowns
The material does not provide the complete calculation method for the pullback indicator.
74,500 USD is an estimated reference based on the historical average pullback and does not mean that the future price will necessarily reach it.
The material does not state whether the analyst's recommendation is suitable for all investors.
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Pullback
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