Analyst: Bitcoin's current 12.8% pullback from its all-time high is closer to a moderate correction rather than a full-scale sell-off.

According to a report by Jinse Finance, CryptoQuant analyst @AxelAdlerJr has released a chart showing that Bitcoin (BTC) has currently retraced 12.8% from its all-time high (ATH). In this bull market cycle, most local peak pullbacks have ranged between -10% and -18%, while deeper corrections typically extend to -20% to -30%. The current 12.8% retracement is closer to the moderate range, which is consistent with a repair/consolidation phase rather than a full-scale sell-off.