PANews reported on May 18 that on-chain analyst Yu Jin published an article on the X platform stating that current market trading enthusiasm is lower than the bottom of the last bear market (December 2022), and the prices of several major cryptocurrencies are actually far higher than those prices at that time.

• Regarding BTC, the average daily trading volume of Binance BTC/USDT at the bottom of the last cycle was about $2 billion, while it is currently only about $500 million. The current price is 4.5 times that of the last bottom. The previous correction was -75%, and this cycle has fallen -38% from the high point. Based on the same magnitude, the bottom of this cycle is estimated to be about $31,000.
• Regarding ETH, the average daily trading volume at the previous bottom was about $400 million, while it is currently about $200 million. The current price is 1.7 times that of the previous bottom. The previous correction was -75%, while this one is -54%, suggesting a bottom of about $1150.
• Regarding BNB, the average daily trading volume at the previous bottom was about $50 million, which is similar to the current level; the current price is 2.7 times that of the previous bottom. The previous correction was -65%, and this one is -50%, suggesting a bottom of about $450.