![](https://www.coindesk.com/resizer/e9nAWv7EPX8j3wsL80FVJyRvCaM=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/PLKKXXUYR5ENTMTWPWDMBPMLWM.png)
“Since the early November peak, there have been four marked, step-like drops in the crypto market,” FundStrat, a global research firm, wrote in a Wednesday briefing. “After each drop there has been a recovery averaging 8.9% leading into the next drop. A noticeable difference between the current recovery and the previous ones is the volatility,” FundStrat wrote.