Bitcoin's Comeback Leaves Many Buyers Still Underwater

Bitcoin has staged an impressive comeback over the past quarter, surging by 33.4% from $63,400 in early July to nearly $84,621 as of October 3. However, this growth still leaves many buyers underwater, with some needing a more substantial percentage gain to break even.

While the recent rally has pushed Bitcoin's price above its quarterly low, it remains about 32.9% below its all-time high of $126,080 recorded in October 2025. To return to last year's price, Bitcoin needs to rise by approximately 42%, while a gain of around 49% would be required to hit the record high.

The timing and cost of entry play a crucial role in determining whether buyers are facing losses or profits. For instance, Strategy Inc., a software company that has shifted to holding Bitcoin, reports an average purchase price of $75,419, resulting in a 12% gain. In contrast, Strive, an asset manager with a Bitcoin treasury, purchased its latest batch at an average price of $85,396, which is only 0.9% above the current price.