Bitcoin's Bumpy Recovery Leaves Some Investors Still Underwater

Bitcoin has seen a significant increase of about 35% over the last 90 days, but it still stands approximately 29% lower than its value a year ago.

The current price of Bitcoin is around $85,975, which is roughly 32% off its all-time high of $126,080. Buyers from July are in a profitable position, while those who entered the market in October 2025 are still searching for a break-even point.

Strategy holds a $9 billion paper gain on its Bitcoin, averaging around $75,400 per coin, but if Bitcoin's price dropped about 12%, it would put Strategy's average cost underwater. Strive's latest Bitcoin purchase is barely above water, with an average price of $85,396.

Buyers from January 2026 and earlier are still underwater, while those who bought in the past 90 days are enjoying profits. A drop below $85,396 would put Strive’s September 28 purchase back underwater, while a drop below $75,400 would also put Strategy's average in the red.