$BTC Bitcoin has fallen approximately 50% from its peak level in October.

There is a concern about the return of the four-year market cycle, but according to K33 Research, the likelihood of an 80% crash is low.

This time, the impact on prices is being driven by investor sentiment, not weak fundamental factors.

The market is already strong:

Institutional investment

Billions of dollars in Bitcoin ETFs

Regulated crypto products

Old holders may sell due to fear, while new investors are cautious.

Positive signs:

Funding rates are negative

Decrease in open interest

Approximately $1.8 billion in long liquidations

All of this has been seen in the past before Bitcoin reached its peak and price reversal.