Bitcoin Drawdown Invites 2022 Comparisons as Analyst Sees Completed Five-Wave Decline From ATH

Bitcoin's latest pullback from its all-time high is being likened to the 2022 bear market by many traders, but analyst Christopher Inks argues the resemblance is mostly surface-level. He says the current structure looks like a finished five-wave decline tied to position reduction, unlike the structurally driven breakdown that followed the TerraUSD depeg in 2022. Inks is watching the next 2‑3 weeks for a defended low, declining pullback volumes and base-building below resistance, while Bitcoin trades around $68,639.