According to Fortune, Bitcoin has declined to around $63,000—roughly half of its all-time high of $126,000 reached in October 2025—as the market enters a deep bear phase. Industry analysts attribute the downturn to three primary factors: the four-year market cycle typical of Bitcoin, elevated macroeconomic inflation reducing rate-cut expectations, and increased leverage liquidation across derivatives markets.
Despite near-term weakness, some analysts remain optimistic. Adrian Fritz, chief investment strategist at 21Shares, expects Bitcoin to bottom this summer and rebound toward $100,000 by year-end, citing a potential shift toward accommodative monetary policy and easing geopolitical tensions. Grayscale research head Zach Pandl estimates a near-term floor around $58,000, with future direction dependent on Federal Reserve policy, corporate Bitcoin purchases, and U.S. crypto regulation developments.