Investors who are looking for clues as to whether Bitcoin's downturn is drawing to a close may be disappointed to see that recent rebounds lag behind those posted by the stock market.

According to data presented by Bitooda, BTC rarely sits within a close range of its all-time highs, while in comparison, major US stock indices seldom drop below a 10% correction from record highs. In fact, since 2014, the S&P 500 and the Nasdaq 100 have only experienced two short bear markets, including one at the start of the pandemic. The second is earlier this year.

During that same period, Bitcoin experienced a long decline before hitting new highs. It is currently in its fourth major decline.

Sam Doctor, head of research at Bitooda said the cryptocurrency hit record highs 124 times since 2014, while the S&P 500 and Nasdaq 100 hit new highs of 483 and 482 times, respectively.

Bitcoin's most recent peak of nearly $69,000 in November was achieved in an easy-money environment, with regulators cutting interest rates as the coronavirus pandemic threatened financial stability. Now that the Federal Reserve is signaling a rate hike to curb inflation, the token could have a more difficult path upwards, digging itself out of the route.

"It will require more patience. I don't see the same type of circumstances where money is just going to flood in the way we saw before," said Steve Sosnick, chief strategist at Interactive Brokers.

Bitcoin is down less than 1% to $43,650 as of 09:30 pm GMT.