Price & trend signal · Bitcoin cycle
Drawdown from ATH
How far below its all-time high Bitcoin trades — the depth of the current decline.
−48.0%
Bottom territory
Late-bear territory; bottom-leaning.
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What is the Drawdown from ATH?
This signal measures Bitcoin’s percentage decline from its all-time high — a plain read on how much of the last rally has been retraced.
Deep drawdowns (over 50–60%) have historically coincided with mid-to-late bear-market lows. Shallow drawdowns near 0% mean price is at or near new highs, a top-leaning condition.
Every cycle’s drawdown depth differs, so we read it as context next to valuation and on-chain signals.
Drawdown from ATH chart & history
Recent cycle position (0–100) of the Drawdown from ATH. Today's reading is −48.0% — Late-bear territory; bottom-leaning.
How to read it
There's no magic threshold, but history gives rough bands. Think of these as context, not triggers.
| Zone | Reading | What it has meant historically |
|---|---|---|
| Deep drawdown● now | below −55% | Late-bear territory; bottom-leaning. |
| Mid | −55% to −15% | Normal mid-cycle range. |
| Near highs | above −15% | At/near ATH; top-leaning. |
It's a signal about months and cycles, not days. That's why CryptoMarketCycle blends it with the other signals rather than reading it alone.
Common questions
It is how far below its record price Bitcoin is trading right now, expressed as a percentage.
Deep drawdowns have historically overlapped with cycle lows, but depth alone is not a signal — we combine it with the others.
Related signals
The Drawdown from ATH is 1 of 16 signals behind the Crypto Market Cycle Index.
See the full index →