Golden Finance reported that The Block CEO Larry Cermak pointed out on The Scoop podcast that there have been at least three 20% declines in previous crypto bull markets. He said: “Even the most recent decline did not reach 20%. In the historical bull market, "This usually happens once or twice, sometimes even three times, and it clears the market of over-leveraged positions and builds momentum for the next rally." Larry Cermak added: "It's helpful to clear out excess leverage. Of course, that's how bull markets tend to end."