BTC logs worst ever start to a year through first 50 days

CoinDesk

by James Van Straten

February 20, 2026

AI-Generated Deep Dive Summary

Bitcoin is experiencing its worst start to a year ever, with a 23% year-to-date decline over the first 50 days of 2026. This marks the first time Bitcoin has seen back-to-back declines in both January and February, according to data from Checkonchain. The cryptocurrency fell 10% in January and an additional 15% in February, bringing its total drop to 23%. This performance is significantly worse than historical trends, as previous years with sharp January declines were often followed by positive February movements. The current downturn follows a challenging 2025, during which Bitcoin saw a 17% decline. Historically, post-election years have tended to outperform, making this year’s underperformance particularly notable. The ongoing weakness in the market has also been accompanied by a significant increase in Bitcoin mining difficulty, rising 15% and reaching its highest level since 2021. Despite this, miner revenue remains low due to multi-year lows in hash prices. The decline in Bitcoin’s value has led to a sharp drawdown, with Checkonchain data showing an average index reading of 0.77, below the typical benchmark of 0.84 for down years. This level of drawdown underscores the severity of the current market downturn and raises questions about Bitcoin’s resilience during this challenging period. For crypto enthusiasts and investors, this situation highlights the importance of understanding market cycles and the factors influencing cryptocurrency prices.

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Originally published on CoinDesk on 2/20/2026