Bitcoin's current drawdown is milder than historical averages, analyst says

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Bitcoin news on October 9 shows a 7.61% decline from $87,027 to $80,404, according to on-chain data from Chainthink and CryptoQuant analyst MAC_D. This pullback is near the 7.58% average for the 2022–2025 bull cycle and below the historical average of 14.39%. Previous bull cycles saw average declines of 18.41%, 21.71%, 10.93%, and 19.39%. MAC_D estimates that a 14.39% drawdown would bring Bitcoin near $74,500 and suggests accumulating BTC around $80,000 and buying additional amounts in the $74,000–$75,000 range.

ChainThink reports that on October 9, CryptoQuant analyst MAC_D noted that Bitcoin declined from $87,027 on October 5 to $80,404 on October 9, a drop of approximately 7.61%, nearing the average retracement of 7.58% during the 2022–2025 bull cycle and remaining below the historical overall average retracement of 14.39%.

Data shows that the average drawdowns during the bull cycles of 2010–2011, 2011–2013, 2015–2017, and 2018–2021 were 18.41%, 21.71%, 10.93%, and 19.39%, respectively.

MAC_D notes that, based on the historical overall average drawdown of 14.39%, the price corresponding to the recent high is approximately $74,500.

He also noted that investors may consider gradually accumulating BTC around $80,000 and increasing purchases in the $74,000 to $75,000 range.

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