Bitcoin
BTC-USDThe world's first decentralized cryptocurrency.
As of Nov 5, 2026, Bitcoin (BTC-USD) closed at $76,088.00, representing a -38.96% drawdown from its all-time high of $124,659.00 recorded on Oct 6, 2025 (395 days ago). Returning to all-time high requires a +63.8% gain.
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Historical Maximum Drawdowns & Annual Drops
Deepest peak-to-trough drop recorded within each calendar year.
Over the last 10 completed years, Bitcoin experienced an average intra-year drawdown of -46.4% lasting an average of 140 days peak-to-trough, with its deepest drawdown reaching -81.2% in 2018.
| Year | Max Intra-Year Drawdown | Peak High | Bottom Trough | Peak-to-Trough | Yearly Return |
|---|---|---|---|---|---|
| 2025 | -32.02%Correction | Oct 6, 2025 $124,659.00 | Nov 22, 2025 $84,739.70 | 47 days | -6.33% |
| 2024 | -26.15%Correction | Mar 13, 2024 $73,072.40 | Sep 6, 2024 $53,963.00 | 177 days | +121.31% |
| 2023 | -20.00%Pullback | Jul 13, 2023 $31,454.20 | Sep 11, 2023 $25,162.50 | 60 days | +155.61% |
| 2022 | -66.93%Bear Market | Jan 1, 2022 $47,722.60 | Nov 21, 2022 $15,781.30 | 324 days | -64.21% |
| 2021 | -53.14%Bear Market | Apr 13, 2021 $63,575.00 | Jul 20, 2021 $29,790.30 | 98 days | +59.79% |
| 2020 | -53.60%Bear Market | Feb 14, 2020 $10,344.40 | Mar 12, 2020 $4,800.00 | 27 days | +301.98% |
| 2019 | -49.41%Correction | Jun 26, 2019 $13,093.80 | Dec 17, 2019 $6,623.82 | 174 days | +94.31% |
| 2018 | -81.18%Bear Market | Jan 6, 2018 $17,069.80 | Dec 15, 2018 $3,211.72 | 343 days | -73.00% |
| 2017 | -34.88%Correction | Dec 16, 2017 $19,102.70 | Dec 30, 2017 $12,440.00 | 14 days | +220.10% |
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Bitcoin Historical Maximum Drawdown & Bear Market History
Historical Maximum Drawdowns & Major Crashes
Bitcoin's price history is characterized by extreme multi-year boom-and-bust drawdown cycles. In the 2013–2015 cycle, Bitcoin plunged -84.7% following the Mt. Gox exchange insolvency, declining from $1,150 to $172 over 410 days. The post-2017 bull run peaked at $19,783 before crashing -84.3% over 363 days to a December 2018 low of $3,122. During the 2021–2022 cycle, an all-time high of $68,789 was followed by a -77.6% drawdown to $15,476 amid widespread institutional deleveraging and liquidity contractions.
Typical Pullback Frequency
Bitcoin exhibits significantly wider volatility bands than traditional benchmarks. Mid-cycle pullbacks of -20% to -35% are common even during strong secular expansions. True cyclical "crypto winter" drawdowns historically compress valuations between -75% and -85% from peak. A -10% drop in Bitcoin represents ordinary weekly volatility rather than the meaningful correction signal it represents in equity indexes.
Historical Recovery Timelines
Bitcoin recovery duration correlates closely with its programmed four-year supply halving cadence. Following the 2013 peak, Bitcoin spent 1,177 days (over 3.2 years) below all-time highs before breaking out in February 2017. The 2017 bear market required 1,079 days (nearly 3 years) to reclaim peak levels in late 2020. The 2021 peak took 846 days (2.3 years) to fully recover, with new all-time highs registered in March 2024. Across all historical cycles, the average time spent in a Bitcoin drawdown regime spans roughly 2.5 to 3 years.