How far the price has fallen from its all-time high. Always negative or zero: 0% = a new record; −30% = 30% below the peak.
A pain thermometer and a cycle marker. Historically, Bitcoin bear-market bottoms landed between ~−75% and −85% (≈−85% in 2015 and 2018, ~−77% in 2022). The amplitude seems to shrink a bit cycle after cycle, but with so few cycles that's fragile. These levels depend on the price source, and a level that marked a bottom yesterday is never a guaranteed floor tomorrow. (High computed on the history available here.)
| < -75 | extreme drawdown: zone of historical bear bottoms (~−75 to −85%). A marker, not a guaranteed floor |
| -75 – -50 | very deep drawdown: the heart of a bear market |
| -50 – -35 | marked drawdown: significant correction |
| -35 – -15 | moderate drawdown: ordinary correction |
| -15 – 0 | near the all-time high: market stretched toward its records |
Descriptive historical markers, not decision thresholds.
See Drawdown from ATH live on the platform →