Bitcoin has lost approximately half its value since its all-time high above $126,200 in October 2025, trading around $60,000 in July 2026. With a 49-51% drawdown, this is the shallowest bear market in the cryptocurrency’s history, far from the 78% decline in 2022 and the 84% decline in 2018. Most analysts expect a bottom in Q3 or Q4 2026. Institutional adoption through spot ETFs from BlackRock, Fidelity, and other major players has fundamentally changed the dynamics of Bitcoin sell-offs, creating a structural floor that did not exist in previous cycles.
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