Bitcoin has demonstrated significantly higher volatility compared to gold and the S&P 500 index since 2020, according to River data. As of November 2, 2025, Bitcoin experienced approximately 20 pullbacks of 5%, 13 pullbacks of 10%, and 8 pullbacks of 20%. In contrast, gold and the S&P 500 recorded far fewer such pullbacks. Starting at a price of $7,100 in early 2020, Bitcoin has undergone intense bull and bear cycles, reflecting its volatile nature amidst market developments. This volatility highlights the cryptocurrency's dynamic price movements compared to traditional assets.