Analysts: Bitcoin is far from entering a historic "capitulation-style decline" phase.

CoinFeed reported on April 12th that crypto analyst Axel Adler stated in an article on the X platform that, from a structural perspective, the current Bitcoin market correction is significantly weaker than previous bear markets. In similar cycles, Bitcoin's largest drawdowns reached: approximately -54% in the 2021–2022 cycle, approximately -64% in the 2017–2018 cycle, and approximately -43% in the 2013–2015 cycle. In comparison, the current market decline is still in a relatively mild range, closer to a "normal adjustment" rather than a deep liquidation phase. However, it is not yet sufficient to confirm that a market bottom has formed. The current stage is still in a structural evolution phase, and it is necessary to continue to observe whether multi-layered data signals show systemic deterioration or confirm a reversal.