Bitcoin entered a bear market in Nov. 2025, dropping 55% from its peak to $88,543 by early 2026, with a projected bottom of $56K–$60K.

Bitcoin may have entered a bear market in November 2025, as its price dropped below the one-year moving average, according to CryptoQuant’s Julio Moreno. After peaking at $126,080 in October, Bitcoin traded around $88,543 by early 2026, marking a 55% decline from its peak. Moreno predicts a potential bottom between $56,000 and $60,000, based on Bitcoin’s realized price. He notes the downturn is less severe than past bear markets, attributing the relative stability to strong institutional involvement via ETFs, a more resilient ecosystem, and no major crypto collapses like in 2022.