---
title: "Crypto Market Update: Is This Just Another Dip? A Look Back At Bitcoin's Worst Pullbacks"
description: "Bitcoin's price is currently $78,837, up from $69,336 in April 2024 and $28,353 in 2023. The cryptocurrency has experienced significant volatility, with past drawdowns of up to 86%. However, Bitcoin's"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/235455707.md"
published_at: "2025-04-10T14:02:06.000Z"
---

# Crypto Market Update: Is This Just Another Dip? A Look Back At Bitcoin's Worst Pullbacks

> Bitcoin's price is currently $78,837, up from $69,336 in April 2024 and $28,353 in 2023. The cryptocurrency has experienced significant volatility, with past drawdowns of up to 86%. However, Bitcoin's volatility has decreased over the years, suggesting future drawdowns may be less severe. Despite recent market fluctuations, the fundamentals of Bitcoin remain strong, indicating that current declines may be influenced by broader macroeconomic pressures rather than issues with the asset itself. Investors are advised to consider the long-term outlook rather than react to short-term market noise.

Bitcoin continues to capture headlines — not just for its role in reshaping global finance, but for its staggering price growth over the years.

As of this month, the price of one Bitcoin is trading at $78,837. In April 2024, it was trading at $69,336. Back in 2023, Bitcoin stood at $28,353.

Bitcoin has always been a volatile market, often experiencing steep declines from its highs.

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Past examples include the 2013–2015 Mt. Gox drawdown of 86%, the 2017–2018 correction during the China crackdown and ICO boom, the 2020 COVID flash crash with a 72% drawdown, the 2021–2022 global inflation crisis with a 77% decline, and currently, the 2025 “Tariff Mania,” with Bitcoin currently down 28% from its highs.

**Source: TradingView (User & Screenshot Source – @NoticeTrades)**

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**From Wild Swings to Stabilization: Bitcoin's Evolving Volatility**

Volatility has played a major role in these drawdowns. In Bitcoin’s early stages, there wasn't as much institutional backing as there is today, which led to greater volatility on both the upside and downside.

Over the last few years, volatility has decreased significantly as Bitcoin has gained more recognition and adoption from countries around the world.

**Source: BitBoi.IO (Screenshot Source – Nick Thomas)**

The average 30-day BTC/USD volatility has decreased over the past 15 years. Back in 2010–2011, the average was around 6%–8%, and it has since dropped to approximately 2% over the last two years.

As volatility decreases, this implies that future drawdowns may not be as extreme—but it also means that the upside percentage gains from current levels may not be as dramatic as they were in previous years.

This kind of behavior is typical of a maturing asset. A helpful analogy is that of a young child—early in life, emotions can be intense and unpredictable. But as people grow older, they usually become more stable, measured, and less reactive. Similarly, Bitcoin's volatility has decreased over time as the asset has matured and gained broader acceptance.

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**Zooming Out: Bitcoin's Drawdown in a Macro Context**

What should be understood is that Bitcoin has continued to show strength and trades higher over time, even in the face of fundamental challenges within the asset itself.

Recently, we've seen increased volatility across all markets — not just Bitcoin. It's easy to point fingers and say, *"I told you so,"* but the reality is that this goes beyond a single market's drawdown. This is a broader, macro-level issue.

With that said, don't let short-term noise influence your decision-making. Take a step back and ask: *Why is Bitcoin down?  
*

Has something fundamentally changed with the asset? Or are we just seeing the effects of broader macroeconomic pressure?

In my view, it's the latter — which means I don't believe this is a time to sell and run for the hills.

Both the fundamentals, which have only strengthened over time, and the technicals can help guide you.

I've recently written about Bitcoin's key levels, which you can read about here.

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
