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Bitcoin down 50 percent from record high in shallowest bear market on record

Bitcoin has fallen about 50 percent from its all-time high of $126,080 set in October 2025, but the market has not yet confirmed a bear-market bottom, an analysis said. Data from CoinGecko and CryptoQuant show the current drawdown is the shallowest in bitcoin’s history, compared with drops of more than 90 percent in 2012, about 82 percent in two later bear markets and about 74 percent in 2022. Analysts cite growing institutional participation and ETFs as key factors, while warning risks remain.