itcoin Drops Below 2025 Key Cost Basis as Correction Deepens

Bitcoin (BTC $84,408.02) has fallen sharply, dipping below critical 2025 cost basis levels amid a broad market drawdown. The cryptocurrency is down 30% from its October all-time high of $126,250 and 17% in November, marking the joint weakest month of 2025 and its poorest monthly performance since June 2022.

Having slipped below $90,000 early Tuesday, Bitcoin is now 43 days into its current correction, which mirrors the April 2025 drawdown when prices fell from $109,000 to $76,000. However, that earlier correction lasted roughly 80 days—almost twice as long as the current one.

The selloff has pushed Bitcoin below the 2025 realized price of $103,227, meaning the average 2025 buyer is now holding a 13% loss. The realized price represents the average acquisition cost of coins, and a drop below this level signals that many buyers are underwater.

A similar scenario occurred earlier this year during the so-called “tariff tantrum,” when Bitcoin fell to $76,000. At the time, the realized price was $70,000, keeping the average buyer above water, according to Glassnode data.

Historically, Bitcoin occasionally dips below the realized price of the year, often creating strong entry opportunities. Since the 2023 cycle began, each year’s realized price has generally acted as support, with brief exceptions in March 2023 during the Silicon Valley Bank collapse and August 2024 amid the Yen carry trade episode.