Quick Take
Last week, Oct. 18, analyst Dylan Leclair observed a similarity in the drawdowns of Bitcoin and TLT.
A comparison of the drawdowns of Bitcoin and TLT, the U.S. long bond, an ETF with a total asset holding of $95 billion, according to VettaFi, reveals a fascinating trend. Bitcoin, often under the scanner for its volatility, demonstrates resilience in its recovery trajectory. Following a plunge to $15,500 during the FTX collapse in Nov. 2022, Bitcoin has made a significant rebound, trading at roughly $30,000. This performance represents a drawdown of 56% from its all-time high, aligning with previous bear market behavior.
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