Bitcoin has recorded a significant drop of over 20% in the last month, falling below 84,000 dollars, after a peak of nearly 126,000 dollars at the beginning of October.

The recent correction of the Bitcoin market has led to losses of hundreds of billions of dollars in the total value of the crypto sector and has caused a sudden change in sentiment among investors, reflected by a Crypto Fear & Greed Index of just 19 points, indicating "extreme fear".

However, analysts at Bitget emphasize that the current decline does not compare to an authentic bear market, such as the "crypto winter" of 2022, when Bitcoin lost 77% of its value. The correction is interpreted as a phenomenon characteristic of a bull cycle, considering the robustness of Bitcoin's infrastructure and the continued accumulation of assets through ETFs.

Institutional investors have seized the opportunity to purchase over 375,000 BTC in the last 30 days, while miners continue to hold their positions, even in the context of declining revenues.