Bitcoin’s price has fallen below $61,000, a 50% decline from its all-time high of $126,000 ten months ago. Major holders like Strategy and key exchanges are now at a loss. The anticipated Clarity Act, a key regulatory catalyst, faces legislative delays. Bitcoin is testing a critical $60,000 support level, with traders watching to see if it holds or opens the door to lower prices.
Bitcoin has declined 42% over the last year and 50% from its peak of $126,000 in September 2025. Some of the world’s largest Bitcoin holders, including Strategy (MSTR) and major crypto exchanges, are now sitting on billions in unrealized losses with the latest drop.
The crypto market structure bill known as the Clarity Act is drifting further out of reach as legislative priorities shift. Many had expected the bill to pass this summer, but that timeline is now being stretched, delaying a potential catalyst for renewed investor interest.
For traders, Bitcoin’s price is now testing a major support block at $60,000, which previously acted as a strong rebound area. This zone represents the last major defense for bulls before the market could move toward significantly lower price levels.
Recently, Real Vision founder Raoul Pal pointed to a bigger picture, stating “When more people are scared off by short-term fluctuations, the real opportunity lies in long-term liquidity and network effects.” This is the fifth time Bitcoin has seen a drawdown of this magnitude historically.
Bitcoin has recovered from all four previous drawdowns to hit new all-time highs. Bitcoin ETFs, however, logged their 11th straight day of net outflows on Monday, and on-chain data shows the broader crypto market cap slipping back below $2.5 trillion for the first time since April.
