Bitcoin falls greater than $59,000 in greatest drawdown in historical past, down almost 47% from all-time excessive
Bitcoin costs fell sharply on Thursday, slipping by means of key help in unstable buying and selling and falling to just about $66,000. This marked what’s believed to be the biggest absolute greenback drop in historical past for the world's largest digital foreign money.
The selloff comes amid a broader international risk-off selloff, with shares, commodities and digital belongings all beneath stress. Main inventory indexes in the USA and Asia fell on considerations about financial progress and inflation information, reinforcing a flight to security by means of leveraged threat belongings.
Bitcoin’s October 2025 excessive (greater than $126,000 on main exchanges) is at present about $59,000 above at present’s low, an unprecedented decline in uncooked greenback phrases.
Whereas earlier drawdowns have been steeper on a share foundation, the magnitude of the decline in nominal USD phrases exceeds the declines seen in 2018, 2022, and different main corrections, in response to information from Bitcoin Journal Professional.
By comparability, previous value cycles have seen declines from round $20,000 to $3,000 in 2018 and from $69,000 to $15,000 in 2022. Each have fallen by vital percentages, however the greenback's absolute worth motion is smaller than the present contraction.
Analysts now describe this decline as the biggest greenback worth Drawdowns in Bitcoin Historical past.
Bitcoin Worth Broad Crypto Market Drivers
Broad markets have confronted sharp declines this week, placing threat belongings throughout the board beneath stress. U.S. shares fell, led by the Nasdaq, taking the brunt of disappointing earnings forecasts and dampening sentiment within the tech sector.
Speculative merchandise, together with silver, fell by double digits, reflecting widespread deleveraging. Bitcoin’s drop under a key technical help stage intensified pressured liquidations and panic promoting, resulting in a widespread sell-off within the cryptocurrency.
Over the previous week, the worth of your complete cryptocurrency market has fallen by greater than $500 billion, with almost each main token recording vital declines.
Including momentum to this, the US-listed Spot Bitcoin ETF has recorded continued web outflows, reversing the institutional inflows that fueled the market in 2025.
Publicly traded firms with vital publicity to Bitcoin, together with main holders like Strategic, have seen their inventory costs decline because the inventory value has declined. $BTCelevating questions on stability sheet stress and future liquidity.
Yesterday, Treasury Secretary Scott Bessent advised the Home Monetary Companies Committee that the U.S. authorities doesn’t have the authority to “rescue” Bitcoin or direct banks to purchase it. $BTC.
Rep. Brad Sherman pressed him on whether or not regulators may intervene, as they did throughout the 2008 monetary disaster, however Bessent flatly rejected the thought.
He mentioned the one issue within the authorities's publicity of Bitcoin's value is because of seizures by regulation enforcement, not investments by taxpayers.
The publish Bitcoin soars above $59,000 in greatest drawdown in historical past, down almost 47% from all-time highs Initially printed in Bitcoin Journal and written by Micah Zimmerman.
