Why would referring domains spike wildly from 60k to 6k and back multiple times this year??

Edit: post was removed for Image link I think, but title describes issue

Second edit: referring pages, not domains. Referring domains is a steady incline, pages are spiked.

Apologies if this is a silly Q, new to this forum - or please direct me to a better place to ask!- SEO is not really the main facet of my job but something my job touches upon -

does anyone know why this dramatic spiking keeps happening in referring URLS?? I thought maybe it was just a reflection of Google updates, but I took a look at some similar-sized competitors and they do not seem to have this.

It's confusing to me b/c I would otherwise think it was due to some sort of link farming/getting cracked down cycle, but we're not doing anything like that. It just keeps bouncing from 60k to 6k, like 4 times this past year.

Relevant info: we're constantly making changes to the website, but nothing major that I know of that would line up with this. I've also been creating content for the site pretty consistently, haven't been deleting anything. Small company, domain rank a little over 2mil. Source of data is Ahrefs.

submitted by /u/Rei_of_Mars
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