Bitcoin trades 39% below its October 6, 2025 peak, while Ethereum sits 55% below its record. Meme coins show steeper losses. Dogecoin trails by 90%, Fartcoin on Solana by 95%. The Official Trump and Official Melania meme coins, launched around Trump's January 2025 inauguration, are down 98% and 99% respectively.
The gap between Bitcoin and traditional stocks is stark. The S&P 500 closed Friday about 3% below its October 6 record. The Nasdaq Composite finished 8% below its high. Among major stocks, Netflix is down 54%, Tesla down 20%, and Apple down just 2%. Google searches for Bitcoin hit a six-year low by mid-October.
The recovery math favors stocks. A 39% drawdown requires a 64% gain to break even. A 90% drawdown requires a 900% gain. Charlie Bilello, chief market strategist at Creative Planning, ranked 19 assets by distance from all-time highs. The team behind the Trump meme coin scheduled a gala dinner for holders with the president on November 22.