Down 32% in 6 Months: What Binance Research Says About Bitcoin’s Next Move

Bitcoin ended the first half of 2026 near $60,000 after falling about 32% since January, Binance Research reported. Its Half-Year 2026: Macro & Bitcoin report described the decline as a third consecutive quarterly loss across broader financial markets worldwide.

The weak first-half performance also extended Bitcoin’s longer-term drawdown. According to the report, the asset has fallen more than 50% from its October 2025 record high near $126,000.

It has also spent 275 days below that peak, underscoring the depth and persistence of the current market downturn. On-Chain Data Signals Market Stress On-chain data showed 10.83 million BTC ended the period in unrealized loss, while 9.22 million units remained profitable instead.

Binance Research said this marked the first loss-over-profit crossover during the current market cycle, making conditions important for analysts.