<h2 id="quick-take">Quick Take</h2> 
<a href="https://cryptoslate.com/coins/bitcoin/">Bitcoin’s</a> price drawdown, which refers to the decline from its peak price of $69,010 in November 2021, has now reduced to under 45%. This development comes after a 750-day journey from its peak and a challenging bear market period in November 2022, when the digital asset experienced a 75% drawdown. 
<figure id="attachment_378503" aria-describedby="caption-attachment-378503" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-378503 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/12/ath.png" alt="Price Drawdown from ATH: (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/12/ath.png 1800w, https://cryptoslate.com/wp-content/uploads/2023/12/ath-300x169.png 300w, https://cryptoslate.com/wp-content/uploads/2023/12/ath-1024x576.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/12/ath-768x432.png 768w, https://cryptoslate.com/wp-content/uploads/2023/12/ath-1536x864.png 1536w" sizes="(max-width: 1800px) 100vw, 1800px">
 <figcaption id="caption-attachment-378503" class="wp-caption-text">
 Graph showing the price drawdown from ATH from 2010 to 2023 (Source: <a href="https://studio.glassnode.com/metrics?%20zoom=&amp;a=BTC&amp;category=&amp;contractExpiration=1680220800&amp;ema=0&amp;m=market.PriceDrawdownRelative&amp;resolution=1w&amp;s=1309431388&amp;u=1656460800%20">Glassnode</a>)
 </figcaption>
</figure> 
Interestingly, the current scenario mirrors a similar drawdown experienced in September 2020, potentially indicating a cyclical pattern that could forecast future market movements. This trend adds to Bitcoin’s narrative of <a href="https://cryptoslate.com/insights/historic-bubbles-burst-while-bitcoin-bounces-back/">recovery</a> and resilience, showing how it navigates through market fluctuations. 
Nearly two months have passed since <a href="https://cryptoslate.com/insights/convergence-in-drawdowns-of-bitcoin-and-u-s-long-bonds-as-tlt-plunges/">CryptoSlate</a> first reported on the TLT drawdown. TLT, known as the iShares 20+ Year Treasury Bond ETF, is a financial instrument that tracks the performance of long-term U.S. Treasury bonds with maturities exceeding 20 years. It offers investors exposure to U.S. government bonds, a cornerstone of many investment portfolios. As of Dec. 1, TLT has experienced a decrease of 52% from its all-time high, which is substantially more than Bitcoin. 
<figure id="attachment_378505" aria-describedby="caption-attachment-378505" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-378505 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/12/tlt.png" alt="TLT Drawdown: (Source: Trading View)" width="1329" height="893" srcset="https://cryptoslate.com/wp-content/uploads/2023/12/tlt.png 1329w, https://cryptoslate.com/wp-content/uploads/2023/12/tlt-300x202.png 300w, https://cryptoslate.com/wp-content/uploads/2023/12/tlt-1024x688.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/12/tlt-768x516.png 768w" sizes="(max-width: 1329px) 100vw, 1329px">
 <figcaption id="caption-attachment-378505" class="wp-caption-text">
 Graph showing the TLT drawdown from 2003 to 2023 (Source: Trading View)
 </figcaption>
</figure> 
The post <a href="https://cryptoslate.com/insights/bitcoins-drawdown-from-ath-drops-under-45-percent/">Bitcoin’s drawdown from ATH drops under 45%</a> appeared first on <a href="https://cryptoslate.com">CryptoSlate</a>.

Bitcoin’s drawdown from ATH drops under 45%

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