Bitcoin traded near $65,574 on Monday, up modestly on the day but still deeply entrenched in a bear market that has wiped out nearly half the cryptocurrency's value since it hit an all-time high just nine months ago.

A modest gain within a much larger decline

Bitcoin rose $233.26, or 0.36%, to $65,574.34 as of early afternoon trading Monday, according to market data. The cryptocurrency opened the day at $65,333.12, roughly 1.6% higher than Sunday's opening price, before drifting between roughly $64,974 and $65,574 through the morning session. Ethereum, the second-largest cryptocurrency by market value, also gained ground Monday, opening at $1,953.02, up 4.3% from the previous day.

Despite the day's gains, the broader picture for bitcoin remains grim. According to Fortune's daily price tracking, bitcoin's price Monday morning represented an increase of roughly $901 from the previous day but a decline of approximately $54,090 compared with the same point a year earlier, a drop of more than 45% year-over-year.

A steep fall from October's record high

Bitcoin reached its all-time high of $126,198.07 on Oct. 6, 2025, a peak that now sits roughly 48% above current trading levels. The decline since that high has unfolded in stages throughout 2026, punctuated by a brutal crash in February that sent the cryptocurrency plunging from more than $80,000 in late January down to around $60,000, before a partial recovery. A separate, sharper leg down occurred in June, when bitcoin suffered a roughly 20.48% monthly drop, extending........

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