Analysts: Bitcoin's current correction remains mild and is far from entering a historic "capitulation-style decline."

Crypto analyst Axel Adler, writing on the X platform, stated that from a structural perspective, the current Bitcoin market correction is significantly weaker than the bear market phases of the 2017–2018 and 2021–2022 cycles. Historical data shows that 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, but not yet sufficient to confirm that a market bottom has formed. Axel stated that subsequent versions will continue to upgrade the model and data dashboard, and the upcoming 1.6 version will reconstruct the RISK ON/OFF module, introducing an LLM layer to comprehensively assess the environment based on global market indicators, further improving cycle identification capabilities. The current market is still in a structural evolution phase, and it is necessary to continue observing whether multi-layered data signals show systemic deterioration or confirm a reversal.