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Bitcoin’s Recent Drawdown Proves Its More Than Just a Leveraged Tech Play
Despite a 26% drop from all-time highs, bitcoin holds steady compared to leading tech stocks, signaling increasing maturity.
Updated Apr 11, 2025, 1:21 p.m. Published Apr 11, 2025, 7:55 a.m.
What to know:
- Bitcoin’s current 3-month drawdown is significantly less severe than during the 2021-2022 correction, reflecting improved market stability.
- Among the "Magnificent Seven," bitcoin's performance ranks mid-pack, outperforming Tesla and NVIDIA, and matching declines seen in Apple, Meta, and Amazon.
The U.S. dollar index (DXY) has fallen below 100 and gold has surged to new all-time highs as escalating tariffs have heightened global economic uncertainty. Consequently, asset prices have taken a hit—most notably in the tech sector and cryptocurrencies.
Since reaching its all-time high of $109,000 in January, bitcoin has declined approximately 26%. When compared to the "Magnificent Seven" tech stocks, bitcoin’s drawdown sits right in the middle, signaling its growing maturity as an asset.
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Tesla (TSLA) is currently the worst performer, down nearly 50% from its peak. NVIDIA (NVDA) follows with a 31% drop. Apple (AAPL), Bitcoin, Meta (META), Google (GOOG), and Amazon (AMZN) have all declined around 26%, while Microsoft (MSFT) stands out with a relatively modest 18% drawdown.
To highlight bitcoin’s resilience in this current 3-month correction, is to compare it to a similar period during its 2021 downturn—from November 2021 to February 2022—when it plummeted 45% from $69,000 to $38,000. At that time, bitcoin was the worst performer among major tech names, though Tesla also suffered significantly.
This comparison underscores how bitcoin has grown more resilient over time as its market cycles progress and the asset continues to mature.
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Bitcoin Treads Water Near $90K as Bitfinex Warns of 'Fragile Setup' to Shocks
BTC's relative weakness compared to stocks points to tepid spot demand, making the largest crypto vulnerable to macro volatility, Bitfinex analysts said.
What to know:
- Bitcoin erased very modest overnight gains early Monday and spent the rest of the U.S. session in a tight range around the $90,000 level.
- Rising long bond yields and a small U.S. equities pulling back weighed on risk appetite as traders eye this week's Federal Reserve meeting.
- Bitfinex analysts pointed out bitcoin's relative weakness against U.S. stocks amid modest spot demand and structural softness.
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