Ethereum drawdown: 60.6% below the all-time high
Ethereum is 60.6% below its all-time high, set Aug 22, 2025 (as of market close, Jul 23, 2026). The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown.
- Below all-time high
- −60.6%
- 39.4% of ATH
- All-time high
- $4,836
- Aug 22, 2025
- Time below the high
- 11 mo
- since Aug 22, 2025
- Worst-ever drawdown
- −93.8%
- Dec 14, 2018
- Longest underwater
- 3.8 yrs
- between all-time highs
- Today's level first reached
- Feb 18, 2021
- 5.4 yrs ago
- Last time this deep
- May 7, 2025
- in a previous episode
% of all-time high since 2016#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater.
% of all-time high on the price basis — the all-time high considers the full history of Ethereum, including years before the visible window. Ethereum pays no dividends, so price and total return coincide.
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Jan 13, 2018 | Dec 14, 2018 | −93.8% | 11 mo | Jan 24, 2021 | 3.0 yrs |
| Nov 8, 2021 | Jun 18, 2022 | −79.3% | 7 mo | Aug 22, 2025 | 3.8 yrs |
| Jun 16, 2016 | Dec 5, 2016 | −67.6% | 6 mo | Mar 11, 2017 | 9 mo |
| Aug 22, 2025 | Jun 25, 2026 | −67.6% | 10 mo | not yet | 11 mo+ |
| Jun 12, 2017 | Jul 16, 2017 | −59.3% | 34 days | Aug 31, 2017 | 3 mo |
| May 11, 2021 | Jul 20, 2021 | −57.1% | 2 mo | Oct 25, 2021 | 5 mo |
| Mar 13, 2016 | Apr 28, 2016 | −51.4% | 46 days | Jun 12, 2016 | 3 mo |
| Sep 1, 2017 | Sep 14, 2017 | −43.0% | 13 days | Nov 23, 2017 | 3 mo |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 2016: how far Ethereum stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: a single asset's history is one surviving sample, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ
- How far is Ethereum from its all-time high?
- Ethereum is currently 60.6% below its all-time high, set Aug 22, 2025 (as of market close, Jul 23, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest Ethereum drawdown ever?
- The deepest decline on record in our data (since 2016) took Ethereum 93.8% below its prior high, bottoming Dec 14, 2018. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily data since 2016 from ETH-USD; no free deep history exists for Ethereum — for a 150-year drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year, 150 years of returns and the rolling-returns explorer. Past performance does not predict future returns; not investment advice.