Bitcoin Price Drop Looks Mild Despite 51% Bear Market Drawdown

Key Insights

• CoinGecko says the current Bitcoin bear market is the mildest on record, with a 51.2% decline.
• Market analyst CW says Bitcoin whales are buying both spot and futures during the pullback.
• Crypto Patel says Bitcoin’s bearish quarterly close puts focus on the $36,000 support level

Bitcoin price drop has reached 51.2% from its all-time high, but new data from CoinGecko shows this is still the smallest bear market decline in Bitcoin’s history. At the same time, some market watchers say large holders are buying, even as the market remains under pressure.

Bitcoin Price Drop is Still Smaller Than Past Bear Markets

Bitcoin price drop in the current market has reached 51.2% from its record high of $124,773. Even though that is a big fall, fresh data from CoinGecko shows the decline is still smaller than every major bear market that came before it.

CoinGecko compared the current cycle with earlier downturns. The 2018-2019 bear market, which came after the ICO boom, saw Bitcoin lose 83.6% from its peak. The 2014-2015 market, which followed the Mt. Gox collapse, ended with an 81.6% drop. The 2022-2023 bear market, which came after the Luna and FTX failures, recorded a 76.7% decline.

Other corrections were also deeper than those seen today. During the COVID-19 market crash in 2020, Bitcoin fell 74.4%. The 2019-2020 decline reached 66.3%, while the 2021 mid-cycle correction ended with a 52.9% drawdown.

Looking at those numbers, CoinGecko said the 2025-2026 bear market is the mildest one so far. The latest decline is only slightly lower than the 2021 correction and much smaller than the three biggest bear markets in Bitcoin’s history.

The figures also show that large drops have always been part of Bitcoin’s journey. Every major cycle has seen heavy selling before the market later found its footing again. This time, the fall has not been as deep, even after months of weak price action.

Large Holders Keep Buying During The Pullback

While BTC crypto prices remain weak, some traders believe big investors are taking advantage of the lower prices. Market watcher CW said Bitcoin whales are still buying during the current pullback. According to the post, they are making net purchases in both the spot and futures markets instead of selling into the decline.

Whales are closely watched because they control large amounts of Bitcoin. Their buying does not mean prices will rise right away, but it can show that some large investors are still adding to their positions while others stay on the sidelines.

The comments come at a time when many traders are worried about the market. Even so, CW’s buying activity suggests that not every large holder expects Bitcoin’s price weakness to persist for long.

BTC Crypto Price Bearish Quarterly Close Puts Focus On Key Support

Another point came from market analyst Crypto Patel, who noted that Bitcoin has posted its first bearish quarterly close since the fourth quarter of 2023. He believes the third quarter could be important because Bitcoin may test the quarterly 50 EMA, which he placed around $36,000.

Patel said staying above that level would keep the bigger market trend positive. A break below it, however, could lead to another round of selling. His comments add another view to the current market. CoinGecko’s data shows the present bear market has been less severe than earlier ones, while CW says whales are still buying through the weakness.

At the same time, Patel believes the next few months could decide whether the BTC crypto price holds its long-term structure or faces more pressure. For now, the market is sending mixed signals. Bitcoin’s price remains well below its all-time high, but history shows this bear market has not been as deep as those that came before it.

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