Bitcoin in 2024 looks increasingly unlike previous cycles as sellers routinely fail to drive BTC price performance lower after new all-time highs.on X on April 5, Checkmate, the pseudonymous lead on-chain analyst at Glassnode, showed BTC price drawdowns barely hitting 20%.from his charting suite, Checkonchain, he flagged the fact that despite mass profit-taking and reactionary selling at the highs, sellers have — at most — sent the market down 20%.
For contrast, the previous bull market cycle between 2019 and the end of 2021 saw two pullbacks of over 50%, with the COVID-19 outlier from March 2020 at 61.4%.
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