Bitcoin Falls Over $59,000 in Largest Drawdown Ever, Down Nearly 47% From All-Time High
Bitcoin Magazine
Bitcoin experienced its largest absolute dollar drawdown ever, falling nearly 47% from its October 2025 peak amid a global risk-off sell-off.Summary
Bitcoin's price crashed sharply on Thursday, dipping near $66,000, marking the largest absolute dollar drawdown in its history, approximately $59,000 below its October 2025 all-time high of over $126,000. This plunge occurred during a broader global risk-off sell-off affecting equities and commodities, driven by inflation concerns and weak earnings forecasts. The decline below key technical support intensified forced liquidations, contributing to a total crypto market loss exceeding $500 billion. Furthermore, U.S.-listed spot Bitcoin ETFs have seen sustained net outflows, and Treasury Secretary Scott Bessent confirmed the U.S. government has no authority to "bail out" Bitcoin.
(Source：Bitcoin Magazine)