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.

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 (BTC) 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.

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.

BTC and Tech Stocks Drawdown 2025 (TradingView)

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.

BTC and Tech Stocks Drawdown 2021-2022 (TradingView)

This comparison underscores how bitcoin has grown more resilient over time as its market cycles progress and the asset continues to mature.

James Van Straten

James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin's role within the broader financial system. In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin, MicroStrategy (MSTR), and Semler Scientific (SMLR).