Bitcoin: 53% Drawdown From October Peak
Bitcoin falls 53% from October peak at $59846.85 with bearish 4h signals including death cross and oversold RSI amid crypto market crash.
SourceAnalysis
Bitcoin trades at $59846.85 after a 53% decline from its October peak, the steepest and longest drawdown since 2022.
Price tests the lower Bollinger band support at $59888.58 while RSI(14) prints 19.94 in oversold territory and MACD registers a bearish death cross at -2532.04, confirming the dominant downtrend below both EMA50 at $68342.57 and EMA200 at $74189.46.
This setup forces fresh BTC price prediction revisions as the crypto market crash extends and Bitcoin technical analysis points to continued pressure before any relief rally.
Charlie Bilello
@charliebilelloCharlie Bilello is the Founder and CEO of Compound Capital Advisors. He shares data-driven insights on financial markets, economic trends, and investment strategies. His content features historical market analysis, inflation updates, and ETF performance research. Followers receive factual charts and statistical perspectives on wealth building and risk management.
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