Bitcoin's (BTC) four-year CAGR drops to its lowest recorded level of 8%

Bitcoin's (BTC) four-year compound annual growth rate (CAGR) has dropped to its lowest recorded level of 8%, according to Glassnode data.

Bitcoin (BTC) is currently trading at a price of $80,000, and while this might seem like a high valuation, it’s worth noting that the cryptocurrency’s four-year compound annual growth rate (CAGR) has dropped to its lowest recorded level of 8%, as highlighted by Glassnode.

The time period of four years was selected to align with bitcoin’s halving cycle and also capture the typical bull/bear market cycle, which tends to follow a similar timeframe.

Back in March 2021, bitcoin was valued at approximately $60,000, which was around the peak of the previous market cycle.

This new CAGR data from Glassnode indicates that bitcoin's volatility and returns are decreasing as the asset matures. However, it's important to note that this metric is heavily dependent on the reference points used for calculation.

In 2021, bitcoin experienced a rapid increase in price, also known as a blow-off top, earlier in the cycle. On the other hand, in March 2025, the price of $80,000 could be viewed as a cycle bottom.

Moreover, the ether (ETH)-to-bitcoin (ETH/BTC) ratio has also entered negative CAGR territory with a rate of 6%. This reflects the poor performance of the second-largest cryptocurrency in comparison to bitcoin.

The primary reason for this downturn can be attributed to ether's price remaining nearly stagnant since February 2021, with its current value being less than $2,000.

At present, the ETH/BTC ratio stands at 0.024, which marks its lowest level since the latter part of 2020.