According to online reports, crypto analyst Matthew Hyland said that the crypto market may not return to its level in December last year until April. He pointed out that "the largest liquidation event in the history of encryption" occurred on February 3, with the amount cleared exceeding US$2.24 billion in 24 hours. Ben Zhou, co-founder and CEO of Bybit, estimates that the actual liquidation amount may be as high as US$8 - 10 billion. Hyland said that based on experience with similar market turbulence events in 2020 and 2022, it usually takes more than two months for the market to fully recover.