Bitcoin down 32% a year after record high in milder bear market
- —BTC is down 32% to ~$83,900 a year after its $126,000 record
- —In 2013, 2017 and 2021 the same-period drawdowns hit 69.7–82.3%
- —Cycle low was $58,900 on June 30, 2026 — just 53% off the peak
- —Over $19B in positions were liquidated on Oct. 10, 2025, and leverage never returned
Why it matters: The shallower drawdown reflects ETF-driven institutional inflows and purged leverage, but 30-year Treasury yields at 5.7% remain a risk to the market.
Source: Journal du Coin