Bitcoin has entered a bear market that has erased about 54 percent from its October 2025 peak near $125,000, according to a Bernstein note cited in market reports. The decline has taken the foremost cryptocurrency back toward recent lows around $60,000 before it recovered to roughly $63,000. Bernstein analysts, led by Gautam Chhugani, said the correction remains smaller than the 75 percent to 90 percent drawdowns seen in earlier cycles. The firm kept its $150,000 year-end bitcoin target, while describing that forecast as ambitious after the steep market reset. Bitcoin traded around $62,600 on July 6, according to ... (full story)