We compare Bitcoin's recent 30% price drop to previous crashes like COVID, Terra/Luna, and FTX, discussing market sentiment, recovery patterns, and whether Bitcoin behaves as a risk-on or risk-off asset.
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How do previous Bitcoin crashes compare to this week’s Tariff Troubles? Colin and Charlie analyze Bitcoin's recent 30% drop from $109K to $76K in context of previous market crashes. We compare the COVID crash of 2020, the Terra/Luna collapse of 2022, and the FTX insolvency in November that same year. We cover how market sentiment in each crash despite similar percentage drops, explore how exogenous and endogenous factors affected declines and recoveries – plus, why the current drawdown, mired in macro turmoil, most resembles the March 2020 COVID crash.
Follow our guests: @cbspears @asilayhodling @btcszn2
Notes:
- Bitcoin down 30% from $109K to $76K
- Markets recovered 9.5% in one day
- Terra/Luna crash: 35% drop in one week
- FTX collapse: only 30% drop but worst sentiment
- US fiscal deficit at $36.7 trillion debt
- BitMEX "outage" may have saved 2020 crash
Timestamps:
00:00 Start
00:46 Bitcoin crashes, “don't buy it”
06:25 Macro lookback
14:00 Covid crash (march 2020)
23:18 Terra Luna crash (may 2022)
32:16 FTX Crash
38:43 Stay humble, stack sats
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