Bitcoin (BTC) dropped to a four-month low of $76,700 on March 11, following a 6% weekly decline in the S&P 500 index.
The stock market correction pushed the index to its lowest level in six months as investors priced in higher odds of a global economic downturn.
Despite Bitcoin’s 30% drop from its all-time high of $109,350, four key indicators suggest that the correction may be over.
Bitcoin bear market needs 40% drop, strong USD
Some analysts argue that Bitcoin has entered a bear market. However, the current price action differs significantly from the November 2021 crash, which started with a 41% drop from $69,000 to $40,560 in just 60 days.
A comparable scenario today would imply a decline to $64,400 by the end of March.
Bitcoin/USD in Nov. 2021 vs. Feb. 2025. Source: TradingView / Cointelegraph
The current correction mirrors the 31.5% drop from $71,940 on June 7, 2024, to $49,220 over 60 days.
Additionally, during the late 2021 bear market, the US dollar was strengthening a
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