Bitcoin is currently trading around $66,000–$68,000 (as of mid-February 2026), down sharply from its late-2025 peak above $120,000–$126,000 — a roughly 45–50% correction typical of post-halving cycles after the 2024 event.
This pullback aligns with historical patterns: Bitcoin often sees deep drawdowns (50–80%) in the year or so following cycle peaks before recovering. We're likely in the corrective "bear leg" phase now, with some analysts warning of further downside to $50,000–$60,000 if macro conditions worsen (e.g., risk-off sentiment, liquidity drying up, or delayed regulatory clarity). Others see signs of stabilization, with institutional accumulation (e.g., corporate treasuries) providing support and potential for rebounds via short squeezes.
My advice: If you're a long-term holder (3–5+ years), buying now or dollar-cost averaging makes sense — current levels offer a margin of safety compared to highs, and Bitcoin's scarcity, ETF inflows, and maturing adoption favor eventual new highs (some targets $100k–$170k+ by end-2026 or later). But if you're short-term focused or risk-averse, hold off or wait for clearer bottom signals (e.g., sustained higher lows, strong ETF inflows).
Never invest more than you can afford to lose — crypto remains volatile. This isn't financial advice;$BTC
