The song premiered on August 27, 2015, and the next day was released for digital download as a single on iTunes. The album, Canal Street Confidential, was released on December 4, 2015. While talking about "Bottom of the Bottle" in an interview with Billboard magazine, Curren$y said;
I was concerned about how people was gon' feel about that record. When I put it out, I thought people might have been shocked because it was so radio-friendly and might turn their backs. They actually generally understood and was happy to even hear me on the radio.
Uproxx's Beware Bowdon wrote that "Currensy might have his most viable single to date with "Bottom Of The Bottle"", also saying that the song "features all the elements of an actual radio hit". Alex Hudson of Exclaim! praised Alsina's vocals, writing that he has provided a "soulful hook" for the song.BET's Eric Diep wrote that it is a "radio-friendly single that has the potential to get some spins in the near future". Ryan Staskel from Consequence of Sound wrote that the song "showcases the album’s shortcomings with some cringe-worthy lyrics epitomized by Lil’ Wayne".