The recovery of the bitcoin price to all-time highs will be “significantly quicker” this cycle, according to the latest K33 Research report.

The drawdown has lasted for 755 days so far, currently around 36% off bitcoin’s all-time high of around $69,000 set in November 2021. That compares to the 1,178 days spent before recovery post-2013 and the 1,092 days post-2017, K33 Senior Analyst Vetle Lunde and Vice President Anders Helseth noted.

“Neither of the past cycles saw institutional demand comparable to the current, with major financial institutions both participating in the space and vocally vouching for BTC in public,” the analysts said. “In 36 days, U.S. ETFs will receive their final verdict, and the market shows considerable demand to accumulate exposure ahead of anticipated …