Bitcoin briefly fell below $60,000 on June 24 before recovering to nearly $61,000, now down 52% from its all-time high. The current drawdown marks the fourth time in the past decade that Bitcoin has declined at least 50% from a prior peak, including a 76% drop from November 2021 to November 2022 that was followed by a 284% gain over the next 43 months. Bitcoin has never posted two consecutive years of losses, and its price at each halving has always been significantly higher than at the previous one, with the next halving expected around April 2028. The network's fundamentals remain strong, with rising adoption by financial institutions, corporations, and countries, while its hard supply cap of 21 million coins continues to support its scarcity value.