[Analyst: Current Crypto Market Trading Enthusiasm Lower Than the Last Bear Market Bottom] On-chain analyst Yu Jin posted on the X platform, stating that the current market trading enthusiasm has fallen below the bottom of the last bear market (December 2022), even though the prices of several major cryptocurrencies are still significantly higher than at that time. For BTC, during the last cycle's bottom, the average daily trading volume of Binance BTC/USDT was approximately $2 billion, while it is currently only about $500 million. The current price is 4.5 times the previous bottom, with the last cycle's drawdown being -75%, and this cycle's drawdown from the peak being -38%. Based on the same percentage decline, the estimated bottom for this cycle would be around $31,000. For ETH, the average daily trading volume at the last bottom was about $400 million, while it is currently around $200 million. The current price is 1.7 times the previous bottom, with the last cycle's drawdown being -75%, and this cycle's drawdown being -54%. The estimated bottom for this cycle would be around $1,150.