While no one has fond memories of the 2022 crypto winter — with the price of bitcoin falling 80% — the timeline was relatively brief, roughly one year from the blowoff top to the bottom. From there, bitcoin quickly doubled in price, rose through 2023, and ultimately hit a new record in early 2024.

Bitcoin has fallen 40% from its 2025 peak, now trading around $75,000-$77,000, signaling a broader cooling period in the crypto market. Over $2.5 billion in

It's reasonable to say that this coin isn't behaving like a safe harbor asset right now.

The main impact of the price decline is slowing Strategy's ability to buy more bitcoin without diluting shareholders, as its stock now trades at a discount to its bitcoin holdings.

The bitcoin price has plummeted under the closely-watched $80,000 per bitcoin level, sparking fears that a full-blown bitcoin and crypto crash could be looming.

Is Bitcoin a bargain below $90,000? Here's what the bulls and bears are saying.

Despite a seemingly low debt/equity ratio (0.14), Strategy faces a headwind in a scenario where the Bitcoin's price continues to fall. Strategy's valuation remains stretched, with the stock trading at 81.84x sales and forward EV/EBITDA of 1778, underscoring overvaluation concerns.

On January 29, 2026, Bitcoin (CRYPTO: BTC) crashed 15% from $96,000 to $80,000 in one day. The remarkable part was not the crash itself.