Bitcoin’s price decline marks a significant bear market, according to Decrypt.
What happened
Bitcoin’s value has dropped 50% from its all-time high of $126,080 in October 2025, making this bear market the shallowest in its history, according to Decrypt. As of June, Bitcoin’s price has experienced double-digit declines as investors pull out their capital amid increasing geopolitical and macroeconomic tensions.
Analysts suggest that the bear market is not over. “ETF outflows, macro tightening, and liquidity rotation” will be key factors in determining the market’s trajectory, said Jeff Ko, chief analyst at CoinEx. Additionally, Alex Tsepaev from B2PRIME Group noted that ongoing ETF outflows and macro pressures contribute to a bearish outlook.
Current levels to monitor include $60,000, with warnings that selling pressure could lead to subsequent drops to $55,000 and $45,000. “There has been only one day of inflows since May 18,” Tsepaev remarked, emphasizing the weakened demand in the market.
Why it matters
The stakes are high as Bitcoin’s market drawdowns are becoming shallower over time. With this trend, investors are cautious about the potential volatility and what it may mean for the stability of cryptocurrency as an asset class. Institutional involvement is also shaping market dynamics, making significant price changes impactful.
Background
On May 18, 2026, Bitcoin began a notable decline, contributing to a total of 50% drop from its peak by early June. Historically, the drawdowns have decreased since 2012, when the bear market exceeded 90%. By 2022, the typical drawdown was around 74%, illustrating a notable shift in market resilience.
What’s next
Upcoming developments will hinge on global economic indicators, particularly regarding inflation and interest rate policies, as well as any further movements in ETF demand. Key levels to observe include $60,000, alongside potential test points at $55,000 and $45,000 in the coming weeks.
