Bitcoin Experiences a Significant Drop, Plummeting Over $59,000 in Its Largest Decline Ever, Nearly 47% Below Its Peak
On Thursday, Bitcoin’s value took a dramatic hit as it fell through crucial support levels and approached $66,000 amid turbulent trading conditions. This event marks what seems to be the largest absolute dollar decline recorded for the leading cryptocurrency.
This latest downturn occurs against a backdrop of widespread global risk aversion. Stocks, commodities, and digital currencies are all facing downward pressure. Major stock indices in both the U.S. and Asia have weakened due to concerns about economic growth and inflation data, which have triggered a shift towards safer investments that negatively impact leveraged risk assets.
The peak price of Bitcoin in October 2025—over $126,000 on major exchanges—now stands approximately $59,000 above its current lows; this drop is unprecedented when measured in raw dollar amounts.
While past declines may have been sharper percentage-wise, the magnitude of this drop in nominal USD terms surpasses those seen during significant corrections in 2018 and 2022 according to data from Bitcoin Magazine Pro.
For context, historical price cycles experienced drops such as from around $20,000 to $3,000 back in 2018 or from $69,000 down to $15,000 during 2022—both representing substantial percentage losses but involving smaller absolute dollar movements compared to today’s situation.
Analysts now characterize this decline as the most significant dollar value drawdown ever witnessed by Bitcoin.
The Influences on Bitcoin Prices within the Broader Crypto Market
This week has seen broader markets undergo sharp sell-offs with risk assets across various sectors under strain. U.S. equities fell sharply with Nasdaq being particularly affected by disappointing earnings forecasts alongside waning sentiment within the tech industry.
Speculative commodities like silver also saw double-digit declines reflecting extensive deleveraging activity. The fall of Bitcoin below essential technical support levels intensified forced liquidations and panic selling that contributed further to an overall downturn within crypto markets.
The total cryptocurrency market capitalization has diminished by over $500 billion over just one week with nearly all major tokens experiencing notable losses.
Additively impacting this trend is sustained net outflows recorded by U.S.-listed spot Bitcoin ETFs which reversed previous inflows of institutional capital that had supported market growth throughout 2025.
Pivotal public companies heavily invested in Bitcoin—including key stakeholders like Strategy—have witnessed their equity valuations plummet alongside $BTC, raising concerns regarding balance sheet pressures and future liquidity challenges ahead.
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This article titled “Bitcoin Falls Over $59K In Largest Drawdown Ever – Down Nearly 47% From All-Time High” was originally published on Bitcoin Magazine by Micah Zimmerman.