After losing the key $100,000 price mark due to a sharp pullback last week, the price of Bitcoin is now changing hands between $95,000 and $95,100. Despite the magnitude of the current drawdown in price, it is still below the level of the preceding major corrections.

Ongoing Bitcoin Pullback Still Behind Previous Drawdown

Bitcoin has been in a downward trend since it reached its all-time high of around $126,000. While investors and traders closely monitoring the charts may perceive the most recent decline in Bitcoin’s price as severe and significant, on-chain data reveals a completely different picture regarding the development.

In a post on the X platform , Darkfost, a market expert and author, revealed that the drawdown of the ongoing correction reached about 23%

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