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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’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
What to know:
- K33 Research says bitcoin’s steep correction shows signs of bottoming, with December potentially marking a turning point.
- The firm has argued that the market is overreacting to long-term risks while ignoring near-term signals of strength, like low leverage and solid support levels.
- With likely policy shifts ahead and cautious positioning in futures, K33 sees more upside potential than risk of another major collapse.
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