#Gate广场四月发帖挑战 Bitcoin plunges more than 40% from $125,000—has the crypto winter really arrived in 2026?

Bitcoin has dropped more than 40% from its $125,000 peak, and it has been down for four straight months in 2026. Wall Street is calling it a crypto winter. Buy the dip or exit the market? Should ordinary people panic? This round of Bitcoin’s drop from high levels had no warning at all—arriving quickly and brutally, giving investors no time to respond.
In early October 2025, it had just touched the all-time high of $125,000. It should have ridden the momentum upward, but it suddenly reversed course—completely bidding farewell to the uptrend—and entered a long period of choppy downward movement.
What’s even more despairing is that it had already fallen below two major key support levels, $90,000 and $80,000. In February 2026, it once plunged to around $60,000. Even if it has recently edged back up to around $69,000, compared with the peak, the drop is still over 40%.
The “rebound” that countless investors thought was coming turned out to be a brief mirage—every time the price tried to break upward, it was ruthlessly suppressed by massive sell orders. Bullish confidence was worn down bit by bit; the more it fell, the fewer people dared to catch the falling knife, and the fewer buyers there were, the more it fell.