#CryptoMarketsRiseBroadly Bitcoin (BTC) has decreased by approximately 50% since October. However, this decline remains more limited compared to previous cycles.

At this point, Fidelity, one of the world's largest asset management firms, analyzed that the declines in BTC are milder compared to past cycles.

According to Fidelity's analysis, the current cycle's decline in Bitcoin is less severe compared to historical data. Bitcoin is entering a maturation phase characterized by decreasing price volatility and institutional fund inflows.

Zack Wainwright, a research analyst at Fidelity Digital Assets, noted that BTC has historically experienced sharp declines of 80% to 90% after reaching all-time highs in previous cycles.

In this market cycle, Bitcoin has only fallen about 50%. This current decline is significantly narrower compared to periods in previous cycles when prices dropped 80-90% from peaks.

At this point, Wainwright added that, when looking at Bitcoin's price performance relative to previous cycle peaks, a "diminishing returns" pattern emerges across cycles.

"As cycles repeat, the phenomenon of decreasing returns appears alongside reduced volatility in both upward and downward movements."

While Fidelity analyzes that the cycle structure is beginning to change, Joao Wedson, founder of the crypto analysis firm Alphractal, pointed out that based on historical patterns, the bottom typically occurs 912-922 days after the halving, predicting that the market bottom is likely to form at the end of September or early October.

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