A year ago, it hit a record high of $126,000. Today, it’s down to half that.
$BTC touched a low of $62,006 this weekend, down about 50% from its all-time high of $126,080 on October 6, 2025. It fell from above $80,000 in just 10 days, losing more than 16% in seven days.
Veteran trader Peter Brandt poured cold water on things today: the weekly chart has formed a head-and-shoulders pattern, and if the neckline is confirmed as broken, Bitcoin may not return to $126,000 for a long time. That said, he also stressed that the pattern hasn’t been confirmed yet.
But viewed another way, this pullback isn’t all that frightening:
From 2017 to 2018, Bitcoin fell 84% from its peak;
From 2021 to 2022, it fell 77%;
This time, from its peak to the late-June low of around $59,000, it fell 54%—making this the mildest bear market in history. Hashrate has still hit a new high, and ETFs are holding around 1.3 million coins.
This whale’s take: the 50% drop looks scary, but it measures the distance from the mountaintop to the valley floor—it’s not a death sentence for the market. With rate-hike expectations, consecutive ETF outflows, and leveraged liquidations still weighing on the market, it’s too early to talk about a reversal. But if the Fed’s tone softens in December, the downside already carved out could fuel the next rally. First, let’s see whether the $60,000 level holds; then we can talk about a reversal or more bottoming out.
$BTC touched a low of $62,006 this weekend, down about 50% from its all-time high of $126,080 on October 6, 2025. It fell from above $80,000 in just 10 days, losing more than 16% in seven days.
Veteran trader Peter Brandt poured cold water on things today: the weekly chart has formed a head-and-shoulders pattern, and if the neckline is confirmed as broken, Bitcoin may not return to $126,000 for a long time. That said, he also stressed that the pattern hasn’t been confirmed yet.
But viewed another way, this pullback isn’t all that frightening:
From 2017 to 2018, Bitcoin fell 84% from its peak;
From 2021 to 2022, it fell 77%;
This time, from its peak to the late-June low of around $59,000, it fell 54%—making this the mildest bear market in history. Hashrate has still hit a new high, and ETFs are holding around 1.3 million coins.
This whale’s take: the 50% drop looks scary, but it measures the distance from the mountaintop to the valley floor—it’s not a death sentence for the market. With rate-hike expectations, consecutive ETF outflows, and leveraged liquidations still weighing on the market, it’s too early to talk about a reversal. But if the Fed’s tone softens in December, the downside already carved out could fuel the next rally. First, let’s see whether the $60,000 level holds; then we can talk about a reversal or more bottoming out.
