Crypto analyst Matthew Hyland said the crypto market may not return to December levels until April. He noted that February 3 saw "the largest clearing event in crypto history", with more than $2.24 billion cleared in 24 hours. Ben Zhou, co-founder and CEO of Bybit, estimates that the actual total clearing could be as high as $80- $10 billion. Hyland said that based on the experience of similar market turmoil events in 2020 and 2022, it usually takes more than 2 months for the market to fully recover.