Brief Description of the Past Phase
Flashback to mid-2022: Following $BTC 's all-time high near $69,000 in late 2021, the crypto market plunged into a prolonged bear phase driven by soaring inflation, aggressive Fed rate hikes, and geopolitical unrest (like the Ukraine crisis). BTC ranged between $18,000–$30,000 for months, with widespread capitulation leading to a bottom around $15,000 by late 2022, before the eventual recovery kicked off the next bull cycle. This context of macro pressures and fear sets a benchmark for today's environment.

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