Cryptocurrencies are having a historically bad start to the year. Bitcoin is down almost 24% from $67,000, and Ethereum has tanked about 34%. These losses mark the worst year-to-date performances on record.
However, the cryptocurrency market has diverged from the broader equities market over the past two months. The stock market has risen while metals have also performed well, with gold up 17% and silver jumping 14%. This divergence has led some to call it a “Crypto Winter.”
The industry is struggling after a “flash crash” on Oct. 10 that wiped out $19 billion in leverage. Since then, Bitcoin has plummeted 46% and exchanges have reported poor results. Some traders are facing losses, with BlockFills suspending customer withdrawals due to over $75 million in losses.
Despite the downturn, some analysts believe the industry’s reality is becoming stronger and will last beyond this current downturn. Experts like Danny Nelson say we’re “in a Crypto Winter,” but they also see signs of stability emerging.
Source: https://fortune.com/2026/02/20/bitcoin-ethereum-price-today-worst-starts-in-history-rebound-in-sight