Bitcoin Drops 39% as Traditional Stocks Stay Near Highs

How Different Markets Are Performing Right Now

Have you ever wondered how traditional stocks compare to cryptocurrency during market shifts? When we look at recent market data, the contrast between traditional financial markets and digital assets is quite noticeable.

Traditional financial market benchmarks like the S&P 500 continue to trade close to their record highs. On the flip side, major digital assets like BitcoinBTC+0.51% are experiencing larger pullbacks from their peak prices.

As you move further into highly speculative digital assets like meme coins, those price drops become even steeper. Let us break down what the latest numbers tell us about market drawdowns across different asset classes.

Comparing Market Drawdowns: From Apple to Melania Coin

To help investors visualize how far various assets have fallen from their top prices, Charlie Bilello, Chief Market Strategist at wealth manager Creative Planning, shared a market breakdown on November 1, 2026.

He ranked 19 popular assets and benchmarks based on how far each sits below its all-time high. Here is how those assets compare, ordered from smallest distance to largest distance from their record highs:

• Apple: -2%
• S&P 500: -3%
• Microsoft: -6%
• Palantir: -14%
• Nvidia: -16%
• Amazon: -17%
• Tesla: -20%
• Meta: -23%
• AMD: -24%
• Gold: -31%
• Google: -32%
• Bitcoin: -39%
• SpaceX: -41%
• Netflix: -54%
• EthereumETH+0.90%: -55%
• Dogecoin: -90%
• Fartcoin: -95%
• Official TrumpTRUMP+4.80%: -98%
• Official Melania: -99%

Reviewing market performance helps provide valuable context on market cycles. However, keep in mind that past performance of digital assets is not a guarantee of future returns. You can monitor real-time prices on Bitkub Market.

How US Stock Indexes Are Holding Up

Major US stock indexes have remained relatively stable near peak levels. For example, the S&P 500 closed on Friday approximately 3% below its record peak set on October 6.

The Dow Jones Industrial Average sat roughly 4% below its record high from August, while the tech-focused Nasdaq Composite finished around 8% below its high water mark.

Even the Nasdaq's 8% gap is only about one-fifth the size of Bitcoin's 39% pullback. Within individual equity stocks, performance varies: Apple sits 2% off its record, Tesla trails by 20%, and Netflix shows a 54% drawdown.

Crypto Assets and the High-Risk World of Meme Coins

In the cryptocurrency space, drawdowns are significantly deeper. Bitcoin sits 39% below its peak reached on October 6, 2025. Interestingly, the S&P 500 hit its record high exactly one year later to the day on October 6, 2026.

Further down the crypto ecosystem, Ethereum (ETH) trails its record high by 55%. The distance grows substantially with Dogecoin (DOGEDOGE-0.01%), which sits 90% below its high. This 35-percentage-point gap between Ethereum and Dogecoin is the widest between adjacent entries in Bilello's list.

Speculative meme coins exhibit even larger pullbacks across the board:

• Fartcoin (FARTCOIN): A meme token on the SolanaSOL-0.74% blockchain, trailing its record by 95%.
• Official Trump (TRUMP): Launched around President Donald Trump's January 2025 inauguration, down 98% from its high.
• Official Melania (MELANIA): Also launched around the January 2025 inauguration, sitting 99% below its peak.

Despite these steep price declines, community events continue. For instance, the team behind the TRUMP token has scheduled a gala dinner for token holders with the president on November 22.

The Math Behind Market Recovery

Why do deep drawdowns present such a challenge? The reason comes down to simple recovery arithmetic. A portfolio loss requires a larger percentage gain just to return to the original starting value.

For example, if an investment of $100 drops 50% to $50, it needs a 100% gain from $50 just to return to $100. When applied to larger market drawdowns, the mathematical required gain increases rapidly:

• A 39% drawdown (like Bitcoin) requires a 64% gain to reach its previous high.
• A 90% drawdown (like Dogecoin) requires a 900% gain to break even with its peak.
• A 99% drawdown (like MelaniaCoin) requires a 9,900% gain to return to its record high.

Search Interest and Market Context

Shifted investor focus is also visible in search traffic trends. By mid-October, global Google searches for Bitcoin hit a six-year low, reflecting lower public search activity during drawdown phases.

While distance from an all-time high offers a clear snapshot of past price swings, it does not indicate short-term directional momentum. Investors evaluating any asset class should consider risk management and individual financial goals carefully.