Bitcoin: 54% Drawdown From October Peak
Bitcoin down 54% from last October peak, longest drawdown since 2022. Current price at $58554.1 with bearish EMA structure on 4h chart.
SourceAnalysis
Bitcoin has fallen more than 54% from its October high, marking the deepest and most prolonged correction since the 2022 bear market.
Price currently sits at $58554.1 inside the Bollinger Bands on the 4h chart, with the EMA50 at $60381.04 acting as immediate resistance and the EMA200 at $65335.66 capping any recovery attempts. The MACD death cross at -518.19 reinforces the bearish structure while RSI at 38.31 leaves room for further downside before oversold conditions appear.
Traders watching BTC price prediction models now compare this cycle’s performance directly against the 2022 drawdown sequence, noting that sustained trading below the lower band at $58127.93 would open the next measured move lower.
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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