A brand new wave of decline has been noticed within the cryptocurrency market for the reason that starting of February this 12 months. Bitcoin, the world’s largest cryptocurrency, has misplaced worth in current months, bringing discussions of a “bear market” again to the agenda.
Bitcoin’s worth historical past reveals that such downturns will not be new for the market. In 2017, BTC rose to $19,666, however a 12 months later it had fallen to $3,122. The subsequent main wave was noticed in 2021–2022. After climbing to $69,000, Bitcoin declined to $15,479.
Most just lately, in October 2025, Bitcoin reached a document excessive of round $120,000–122,000. Nevertheless, by February 2026, it had misplaced roughly half of its worth and is buying and selling at round $66,000–67,000.
This case brings the important thing query out there again into focus: how lengthy will the “bear part” in Bitcoin final, and what awaits the market within the coming months?
What is going on within the crypto market?
Analysts on the U.S.-based CME Group trade observe that after the height shaped in the summertime–autumn of 2025, Bitcoin has declined by roughly 25–30%, whereas the drop in altcoins has been even deeper. It’s emphasised that costs within the crypto market are nonetheless largely tied to Bitcoin’s efficiency, and this undertow is pulling altcoins downward as effectively.
What does a “bear market” imply?
Within the cryptocurrency market, such intervals of decline are normally known as a “bear market.” It is a part by which costs transfer downward for an prolonged interval. Bear markets are a pure a part of the crypto cycle and usually happen after main waves of development.
Analysts at CoinDCX recall that in Bitcoin’s historical past, costs fell by 74% in 2018 and by greater than 70% in 2022. On this context, the present decline shouldn’t be uncommon for the market.
Why are cryptocurrencies declining?
Analysts state that the present downturn within the cryptocurrency market shouldn’t be merely a technical correction. The method is pushed by each world monetary circumstances and altering investor psychology.
It’s famous that though cryptocurrencies have been offered in recent times as “different monetary property,” in follow, they nonetheless fall into the class of dangerous property. Because of this, financial tightening in the US has a direct affect on the crypto market.
Analysts at CME Group level out that buyers have shifted right into a “risk-off” mode out there. In different phrases, they’re exiting high-risk property and transferring towards extra secure devices.
Merely put, when rates of interest are excessive, the greenback turns into extra enticing. Buyers keep away from danger, promote crypto property, and in consequence, elevated provide out there results in falling costs.
Why is the “digital gold” thesis being questioned once more?
Crypto supporters have lengthy offered Bitcoin as “digital gold,” claiming that it might function a secure haven throughout occasions of disaster. Nevertheless, a unique image has emerged in current months out there: as geopolitical dangers improve, buyers are giving choice to gold over Bitcoin.
Bloomberg Intelligence strategist Mike McGlone states that the “bubble is bursting” within the crypto market and that investor narratives are altering. In keeping with McGlone, amid Bitcoin’s decline, buyers are turning extra quickly to conventional secure property resembling gold and silver.
Why does Bitcoin’s “undertow” hit altcoins tougher?
In keeping with a research by CME Group, altcoins usually fall beneath the gravitational pull of Bitcoin. When Bitcoin declines, different property out there are inclined to drop much more sharply.
As Bitcoin is the locomotive of the market, its depreciation prompts buyers to exit altcoins extra rapidly, deepening the downturn.
How lengthy can a “bear market” final? What does historical past say?
An evaluation by CoinDCX notes that bear cycles within the crypto market will not be restricted to just some months and might typically final greater than a 12 months.
For instance, in 2014, the hacking of the Mt. Gox trade triggered a sharp market decline. In 2018, fears of an ICO bubble pushed Bitcoin down by 74%. In 2022, the FTX scandal severely undermined market confidence. Nonetheless, every time Bitcoin managed to get better inside roughly a 12 months and a half.
What lies forward for the market? – Two foremost eventualities
Analysts define two foremost potential instructions for the market’s future.
Below the primary state of affairs, the “crypto winter” may very well be extended. Some specialists imagine the downturn shouldn’t be but over and that Bitcoin could take a look at decrease ranges. This view aligns with warnings from Bloomberg Intelligence’s Senior Commodity and Crypto Strategist Mike McGlone.
In keeping with McGlone, Bitcoin’s worth may decline additional, doubtlessly falling to $10,000.
Below the second state of affairs, the market could enter a stabilization part. Some analysts argue that Bitcoin is transferring right into a consolidation stage across the $60,000 degree. If the market stabilizes at these ranges, a gradual transition to a brand new upward part could change into potential.
How lengthy will the Bitcoin bear “sleep”?
In keeping with analysts, the present downturn within the cryptocurrency market has been formed by a mix of things: expectations of tighter financial coverage by the Federal Reserve, a world risk-off wave, the weakening of Bitcoin’s safe-haven function, deeper sell-offs within the altcoin market, bear market psychology, and investor worry.
Historical past reveals that bear markets in Bitcoin could be extreme and extended. On the similar time, earlier downturns have ultimately been adopted by restoration.
At this stage, the important thing query stays open: is that this decline the start of a brand new “crypto winter,” or merely the ultimate correction earlier than the subsequent upward cycle?
