K33: Bitcoin's low of $60000 may be the largest drawdown of this round

According to K33, Bitcoin fell about 6% after retesting its 200 day moving average of around $82000 this month, but the low point of around $60000 in February this year may be the biggest pullback in this cycle. Research director Vetle Lunde pointed out that the market experienced a slow recovery of 189 days after falling below the 200 day moving average, and leverage and risk appetite did not quickly rebuild. The current trend is more like a mild adjustment rather than a precursor to a deep decline.