Bitcoin's Current Drawdown Sits Around -40% — Still Shallower Than Past Bear Markets

2026-02-22 09:16:46

How Deep Have Past Bitcoin Bear Markets Actually Gone?

A closer look at the “Bitcoin Bear Market Correction Drawdowns” chart tells the story clearly. Overlaying BTC price with peak-to-trough data from every major cycle — 2011, 2013-15, 2017-18, 2021-22, and the current 2025+ phase — the picture is striking.

The 2011 collapse was nearly vertical. The 2013-15 and 2017-18 cycles both carved out brutal multi-month declines, while the 2021-22 bear market also printed a massive drop before finding a floor. The current cycle? Still clustered around the -40% drawdown zone — well above the deeper troughs of previous episodes.

Keep DCA-ing — but another leg down is still possible.

That’s not to say the pain is over. The right axis of the chart tracks drawdown percentages, and the 2025+ band hasn’t yet reached the deeper zones that defined earlier bear markets. For traders using historical benchmarks, this cycle’s correction still looks comparatively shallow — which cuts both ways.

Diminishing Drawdowns — Trend or Trap?

The chart itself carries a “Diminishing Drawdowns” label, and visually, the trend holds: each successive cycle has seen smaller percentage losses from peak. If that pattern continues, Bitcoin’s current -40% pullback could represent a genuine cycle low. But if this correction deepens, it would pull the current phase back into territory more consistent with drawdown consistent with past cycle corrections, shifting how traders read where we are in the broader market structure.

There’s already been warning signs on the chart. A trendline break sparks deeper correction risk remains a live concern, and analysts have flagged near-term pullback risk if key support breaks — both scenarios that could close the gap between the current drawdown and historical bear-market lows.

For now, the data supports a cautious read: this cycle has been less severe than most prior bears, but it hasn’t definitively ended either. Whether the “diminishing drawdowns” thesis holds — or breaks — will likely define how this cycle is remembered.

BTC-1,07%

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