I'm not sure about being in a bear market just yet when compared to 2018 which was rekt city. If we're still in the doldrums in the beginning of Q2 and 80% down from ATH (BTC) then I'd say that's the bear. The recent drop is Degen traders getting liquidated so we will see if it recovers from this shockwave! However, a great time to pick up some sats on the cheap or just HODL 😁
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I think with increased market cap, the percentage difference between a ATH and new bottom will be lower and lower. So I don't think we will see BTC at 80% down necessarily.
We shall see, it's still early days from this latest round of liquidation shockwave. People will still leverage and I think there's possibly another draw down coming. Not sure why, just a "feeling" we'll see prices touch the prices we saw last year in May/June. If that doesn't hold, who knows?!