Bitcoin is approaching its first consecutive annual losses in its 18-year history, with the cryptocurrency down 6.34% in 2025 and declining another 15.65% in 2026 as of November 10, trading around $73,850. The combined decline of approximately 21% would mark the first time Bitcoin has closed two calendar years in the red, despite having experienced several brutal crashes since its creation. The potential milestone comes as Bitcoin would need to recover above its 2026 opening price of roughly $87,500 by December 31 to avoid this historical first, with 50 days remaining in the year.
Bitcoin's Combined 21% Decline Remains Smaller Than Previous Bear Markets
Bitcoin's current losing streak is considerably less severe than previous annual crashes. The cryptocurrency plunged 73.56% in 2018 and 64.27% in 2022, wiping out most of investors' holdings in each respective year. The combined decline of approximately 21% after accounting for compounding represents a fraction of the losses investors endured in previous crypto winters. Historical annual returns show Bitcoin has experienced several brutal crashes since its creation, but each negative calendar year has been followed by a positive one until now. Bitcoin's 120% surge in 2024 means investors who bought at the beginning of that year would still be sitting on substantial gains despite the subsequent decline.
Bitcoin Declined Over 50% From October 2025 Peak to 2026 Low
Bitcoin reached approximately $126,000 in October 2025 before crashing below $58,000 during 2026. That represented a decline exceeding 50%, a significantly more painful move than the 21% combined loss reflected in the two annual candlesticks. The peak-to-trough measurement reveals a considerably deeper correction than the calendar-year performance suggests. Analysts have pointed to Bitcoin's increasingly institutional investor base, spot exchange-traded funds, and deeper market liquidity as potential explanations for its comparatively smaller bear-market drawdowns. Bitcoin gained roughly 92% in 2019 following its 2018 collapse and surged more than 155% in 2023 after its disastrous 2022 performance.
Bitcoin Requires 18.5% Gain to Finish 2026 in Positive Territory
At its November 10 price of approximately $73,850, Bitcoin would need to gain about 18.5% to recover its 2026 opening price and finish the year in positive territory. The cryptocurrency has 50 days left in 2026 to avoid its first back-to-back annual losses. Bitcoin's 2026 opening price was roughly $87,500.
FAQ
What is Bitcoin's performance in 2025 and 2026?
Bitcoin finished 2025 down 6.34% and has lost another 15.65% so far in 2026 as of November 10, trading around $73,850. The combined decline is approximately 21% after accounting for compounding.
How does Bitcoin's current decline compare to previous bear markets?
Bitcoin's combined 21% decline over 2025-2026 is significantly smaller than its 73.56% crash in 2018 and 64.27% drop in 2022. However, Bitcoin declined over 50% from its October 2025 peak of approximately $126,000 to below $58,000 during 2026.
