Trader Killa Says Bitcoin’s 10% Pullback May Be Nearing Its End

Bitcoin (BTC) has fallen about 10% from a phase high, and trader Killa said the pullback may be nearing its end based on a comparison with earlier market cycles.

Killa's framework starts with a 77% to 78% loss in the previous bear market. In the following bull-market phase, Bitcoin's largest pullback was about 20% to 22%, before the price approached a prior high near $126,000.

The current bear-market decline was about 54%, Killa said. He used that smaller decline to scale the prior cycle's pullback, estimating that a larger correction in the present bull-market phase could range from 10% to 15%.

The framework compares the size of a bear-market loss with the pullback that followed in the next bull-market phase, then applies that relationship to the current cycle.