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Infrastructure
Feb 2019
ATOM Outperforms Major Layer-1s Amid Market Drawdown
📊 ATOM Outperforms Major Layer-1s Amid Market Drawdown In the midst of a macro-driven bear market...
4 Min
Layer 1 / L1
Sep 2022
VC Liquidity Drawdowns
Interesting setup heading into 2026 for AI funding, VC funds drawing down tons of cash to invest in...
1 Min
DeFi
Aug 2025
The Great Reset: Navigating Crypto in 2023
...higher from Q2 2020-Q4 2021 turned against it, resulting in one of the sharpest and quickest price drawdowns...But long drawdowns have a silver lining in that they encourage deeper reflection, giving all of us a...AMZN subsequently suffered a 94% drawdown in the depths of the dotcom crash, even as its revenue growth...
DeFi
Jan 2023
Searching for Market Bottoms
Setting the Stage – Signs of a Market Bottom The crypto market is facing one of its sharpest drawdowns...If this time isn’t different, we could see another 50-70% drawdown in most liquid crypto assets as we...If we compare BTC’s current drawdown to the one we experienced after its 2017 all-time high, there’s...
16 Min
Macro & Markets
Jun 2022
Supersize Fakeouts, Hold the "Fed Put"
Go The latest selloff has put bitcoin on the wrong side of the wrong kind of halving: a nearly 50% drawdown...We know BTC volatility is much greater than traditional assets, and we’ve seen far greater drawdowns...ETH experiencing larger drawdowns than BTC is to be expected given its perception as a higher beta asset...
11 Min
Macro & Markets
Jan 2022
Revenge Shorts, Crypto Indices, and a Trip to Goblin Town
Unfortunately, this is crypto, so high correlations to BTC and large drawdowns are just a part of the...portfolio’s (standalone BTC and Bitwise 10) macro top a few months ago to its recent bottom: BTC’s max drawdown...In fact, ETH also had a lower maximum drawdown of 57% vs the DPI’s 65%.
5 Min
NFTs & Gaming
Jul 2021
The Good, The Bad, & The Ugly [Charts]
As we know all too well, these kinds of drawdowns are par for the course when it comes to crypto, but...Interestingly, over 85% of bitcoin UTXOs are still in profit; price bottoms following historical drawdowns...Nevertheless, despite its recent drawdown, the long-term chart clearly shows BTC still in an uptrend;...
6 Min
Macro & Markets
Jun 2021
GBTC Discount, BTC's Surging Dominance, & Crypto Hell Week
...as we saw back in 2015 and more recently in late 2018/early 2019, but it does imply that most of the drawdown...But just because BTC has experienced a big drawdown doesn’t mean an immediate reversal is imminent.
4 Min
Macro & Markets
May 2022
The Year Ahead for Markets
State of the Crypto Market The sharp drawdown in crypto asset prices this year has many wondering when...History never repeats itself, but this year’s drawdown mirrors that of 2017-2018 in many ways....ETH saw an even larger drawdown during the 2017-2018 cycle, falling 93% from peak-to-trough....from current levels (and a total peak-to-trough drawdown of ~45%).
55 Min
Global Macro Themes
Dec 2022
BNB Outperforms, NFT Insights, Crypto Winter Bleeds Into Summer
Insolvency issues at large crypto firms have further perpetuated the drawdowns, resulting in a liquidity...While BTC has experienced a 69% drawdown since all-time high in Nov-2021, BNB is down by 64%....The total crypto market cap down has dropped from $3T to $991M, a drawdown of nearly 67%.
6 Min
Layer 1 / L1
Jul 2022
BTC Options Expiry, Ethereum Thrives
Key Takeaways In the last two weeks, ETH price took a bigger drawdown (-50%) than BTC (-35%)....Considering ETH’s sharper drawdown, the high amount of volume is a potential indication of capitulation...
3 Min
Infrastructure
May 2021
The Aftermath of FTX's Downfall
A week charged with volatility and steep drawdowns is bound to catch the attention of market makers and...Many crypto assets saw substantial intraweek drawdowns as the whole market reacted to the once unthinkable...several major sectors, which isn’t uncommon during periods of market distress.Despite FTT’s >80% drawdown...
32 Min
Financial Market Themes
Nov 2022
Revenge Of The Greenback
At the time of writing, the index has officially moved into bear market territory, defined as a 20% drawdown...since the May 12th capitulation, a potential sign of market appetite returning after the most recent drawdown...Market appetite is also returning after the early May drawdown.
8 Min
Macro & Markets
May 2022
Market Lull Shifts Focus to Fundamentals [Chartbook]
. 2021 highs, BTC open interest has contracted over 40%, in part driven by BTC’s considerable price drawdown...BTC is still trying to find its footing, but last week’s drawdown didn’t help… For the most part, the...crypto market is down ~30% from the Nov. 2021 highs… …but this is in part a byproduct of the sharp drawdown...
18 Min
DeFi
Jan 2022
Leverage Wipes Out, But Is the Worst Behind Us?
With not much demand to push BTC and ETH beyond their recent ATHs, it seemed the only way up was to drawdown...
3 Min
Infrastructure
Oct 2021
Delphi Office Hours Call (December 15th, 2021)
Yan & Duncan (00:21:50) – Thoughts on the current drawdown, is it an indication that the 4 year cycle...
1 Min
NFTs
Dec 2021
Crypto Insider Talks: The FTX Aftermath
The origins of the FTX collapse and how it can be traced back to the market drawdown in May 2022 with...
2 Min
Macro & Markets
Nov 2022
Liquidation Scares, Sushi's Restructure, & Reminiscences of a Crypto Cowboy
Liquidation Fears Impact Fantom Over the weekend, FTM was one of the tokens that underwent a significant drawdown...As whales get liquidated, it’ll likely cause a large drawdown in price that could cascade into larger...
7 Min
Money Markets
May 2022