Bitcoin Limps Into New Year at $87,000, Down 30% From All-Time Highs
It has now been 87 days since bitcoin hit its most recent all-time-high of just over $126k. Based on sentiment in the space, you would guess that the most recent all-time-high was years ago. 2025 was a strong reminder that the most efficient strategy with bitcoin is to spend less than you earn, and dollar cost average the excess into bitcoin, such that you are gaining exposure regardless of price volatility. Folks who employed that strategy in 2025 had a peaceful year. Comparatively, chasing the hype of “bitcoin treasury companies”, more aptly named “leveraged bitcoin equities” (a term coined by @cory klipsten, I believe), has resulted in horrible performance in 2025. Strategy, the largest and most well-known example, was down roughly 50% in 2025. Looking ahead to 2026, the macro setup is arguably the best it has ever been for bitcoin. President Trump is set to install what will likely be indistinguishable from a literal marionette as new Chair of the Federal Reserve, and he has been highly vocal about his belief that interest rates should be lowered considerably. Expect hard asset prices to respond accordingly.