Bitcoin Plunges 40% since October Peak as Market Sheds $2trn

Bitcoin has lost more than 40 per cent of its value since peaking near $127,000 in October 2025, underscoring the deep volatility that continues to grip the cryptocurrency market.

Data from CoinGecko shows the broader crypto market has shed almost $2 trillion in value over the same period, reflecting widespread investor caution.

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Despite the slump, Bitcoin posted a modest rebound in the last 24 hours, rising 1.35 per cent to $68,324.65, in line with a 1.36 per cent increase in the total crypto market cap.

Analysts attribute the uptick to a broader recovery in equity markets, with Bitcoin maintaining a strong correlation of 0.74 with the Nasdaq-100 ETF (QQQ), reinforcing its reputation as a higher-beta play on stocks.

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Standard Chartered (StanChart) has meanwhile slashed its Bitcoin price forecast for the second time in less than three months. The bank now expects the cryptocurrency to slide to $50,000 before recovering, projecting it will end 2026 at $100,000. This marks a sharp downgrade from its earlier forecast of $150,000, which itself was cut from $300,000 in December 2025.

The latest revision reflects growing caution among institutional analysts, who warn that macroeconomic pressures, risk-off sentiment, and liquidity constraints could keep Bitcoin under sustained pressure in the near term. Yet, despite the bloodbath, StanChart maintains that Bitcoin will eventually recover, albeit at a slower pace than previously anticipated.

The combination of a $2 trillion market wipeout, a 40 per cent price collapse, and repeated forecast downgrades highlights the fragility of crypto valuations in the face of global economic uncertainty, even as long-term projections remain bullish compared to current levels.