Bitcoin bear market was “relatively easy” compared to previous ones, says Anchorage Digital
The bear market that brought Bitcoin down to around $58,000 in 2026 was described as “relatively easy” compared to previous cycles, according to an analysis by David Lawant, head of research at Anchorage Digital. The statement was made this Wednesday (16), during the Digital Asset Conference 2026 in São Paulo, and draws attention to the structural changes taking place in the crypto world.
Atypical bear market: what changed this time?
Historically, Bitcoin bear markets have been marked by sharp drops — in past cycles, such as in 2018, BTC lost more than 80% of its value from its all-time high. In contrast, the most recent pullback, which took Bitcoin from a peak near $73,000 down to the $58,000 range, represented a correction of about 20%. According to Lawant, this difference shows greater market maturity and the presence of new institutional players, which helped prevent extreme movements.
Factors that softened the impact
Among the elements that contributed to a less intense bear cycle, the Anchorage Digital executive highlighted the entry of large funds and Bitcoin ETFs, which increased liquidity and brought more stability to the market. In addition, the strengthening of regulatory infrastructure and advances in institutional custody solutions were also pointed out as pillars of the sector’s resilience.
Another relevant point is the maturity of investors, who have started using hedging and diversification strategies, avoiding panic selling. Lawant also emphasized that the continued interest from companies and governments in exploring blockchain technology helped maintain long-term optimism, even during the downturn.
Comparison with previous bear cycles
In the 2018 bear cycle, Bitcoin plunged from $20,000 to less than $4,000, while in 2022, the drop was from $68,000 to $16,000. Both episodes were accompanied by a wave of liquidations, exchange bankruptcies, and collapsing projects. In 2026, despite the drop to $58,000, the ecosystem proved more robust, with fewer insolvency cases and greater capacity to absorb shocks.
This new scenario reflects the growth of institutional participation and the maturing of risk management practices. For investors, this means a less volatile and more predictable environment, although still subject to the typical fluctuations of digital assets.
What to watch going forward
Despite the optimistic tone, Lawant warned that the crypto market remains exposed to regulatory and macroeconomic risks. The expectation is that future corrections will be less abrupt, but will still present opportunities and challenges for investors. The role of ETFs, corporate adoption, and the development of new DeFi solutions should remain on the radar for those following the sector.
Want to trade crypto with AI support? Check out Zayion AI, Bianchi Capital’s trading assistant.
With information from BeInCrypto Brazil. September 2026.
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Alexandre Bianchi
Fundador da Bianchi Capital e do Zayion AI. ~10 anos no mercado de ativos digitais, autor de referência e presença na mídia.
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