Why bitcoin is down ‘just’ 32% a year after its record high of $126,000
This shallower decline isn’t limited to the one-year anniversary. The bear market itself has been milder with past downturns seeing prices plummet 77% to 85%.
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Summary
- Bitcoin is down 32% a year after its record high – far shallower than the 70%–82% declines seen a year after previous cycle peaks.
- Institutional ETF flows, reduced leverage and lower volatility are reshaping bitcoin’s cycle.
- Analysts warn that hence forth bull runs may be more measured as well. At the same time, shallow correction does not rule out sharper downside ahead.
