Data from The Kobeissi Letter account revealed that the cryptocurrency market lost more than half of its value in less than a year, specifically in just 8 months, in one of the largest downturns the sector has witnessed in recent years.

According to the data, the total market capitalization of cryptocurrencies reached a record high of $4.3 trillion on October 6, 2025, driven by a strong rally that included most digital assets.

But after only 261 days, the market capitalization fell to about $2.0 trillion, representing a decline of 54%, and a loss of over $2.3 trillion in total market value.

This means that the cryptocurrency market lost an average of about $8.8 billion per day over 261 consecutive days, a decline that reflects the magnitude of pressure digital assets have faced recently.

Bitcoin's price fell below $60,000, amid a decline in major cryptocurrencies, reviving a fear absent from the crypto market for two years about a market downturn..

This drop is among the largest correction waves the cryptocurrency market has witnessed, having erased more than half of the gains achieved during the last bull cycle.

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