Analysis: The previous Bull Market has experienced at least three pullbacks of 20% or more. The current pullback has not yet been reached.

Crypto media outlet Jinse Finance reported that Larry Cermak, the CEO of The Block, pointed out in The Scoop podcast that the previous encryption bull run has experienced at least three 20% declines. He said, ‘Even the recent decline did not reach 20%. In historical bull runs, this situation usually occurs once or twice, sometimes even three times. It can clear out overleveraged positions in the market and build up strength for the next pump.’ Larry Cermak added, “Clearing excessive leverage is beneficial. Of course, Bull Market often ends in this way.”