It was another down month for bitcoin, with price dropping below the all-time high it made in the previous bull market.
This $69,000 high was made in November 2021.
In each of its previous bear markets, bitcoin’s price has dropped by at least 77% from its all-time high, whereas it recent lows are 52% below its October all-time high, so it may still be too early to conclusively say whether we’re in a bear market.
As of February 2026, bitcoin’s price has been dropping since October in a manner many investors might call bear market-like price action. In each of its previous bear markets, bitcoin’s price has dropped by at least 77% from its all-time high, while its recent low is 52% below its October all-time high.
This doesn’t mean price must fall at least 77% to be considered a bear market—just that the relative magnitude of the current drop hasn’t yet approached what we’ve seen in previous bear markets.
