Since such a level of corrections is often seen in each market cycle, Darkfost stated that there is nothing unusual about this large pullback so far. As indicated on the Bitcoin Drawdown metric, the previous corrections, particularly the last two, reached 26% and 28%, respectively. These corrections occurred in September 2024 and May 2025.
The massive portion of BTC that has moved to centralized exchanges is a clear indication of capitulation among the cohort, who appear to be losing confidence and are choosing to exit the market to minimize their losses. Should this amount of coins be sold, this will lead to billions of dollars leaving the market, which would ultimately trigger more decline in Bitcoin’s price.
