Bitcoin has slid back to levels near its 2021 all-time high after a recent dip to $62,000, and According to CoinGecko data it is down about 11% over the last week, 23.5% over 14 days, and 25.7% versus the prior month. Traders and investors now debate whether broader weakness could force deeper declines.
Markets fell sharply in November 2022 after the collapse of FTX, which pushed Bitcoin to roughly $15,000 and sent many altcoins lower, including Solana near $9. That event was driven by an exchange failure and a bank-run style selloff.
Current headwinds include macroeconomic uncertainty, geopolitical tension, and a liquidity squeeze, rather than a single exchange collapse (Ed. note: Unlike 2022, recent weakness lacks a comparable counterparty failure). These differences make a replay of the $15,000 low less likely this cycle.
Some analysts expect deeper short-term weakness, with forecasts placing Bitcoin below $40,000; Stifel projects a potential drop to about $38,000 this year. Longer-term, Grayscale and Bernstein both see a new all-time high in 2026, citing a possible five-year cycle pattern rather than a four-year rhythm.
