Bitcoin Risks Record-Tying Losing Streak as Macro Pressures Persist
Bitcoin is on the verge of matching a rare and bearish milestone, with the potential to log six consecutive monthly losses for only the second time in its history.
The largest cryptocurrency is currently trading near $66,600 and would need to climb more than 1% before the monthly close to finish above $67,300 — the level at which it began the month. Failing to do so would confirm a six-month losing streak, a pattern last seen between August 2018 and January 2019, according to Coinglass data.
The recent slide has been steady. Bitcoin declined 4% in October, followed by an 18% drop in November and a further 3% loss in December. The weakness has carried into 2026, with January down 10%, February falling 15%, and March currently in negative territory.
While the 2018–2019 stretch was followed by a multi-month recovery, current conditions suggest the path forward may be less forgiving.
From a technical standpoint, bitcoin continues to trade above key long-term support levels, including its 200-week moving average near $59,000 and its realized price — an on-chain measure of average cost basis — around $54,000. In prior bear cycles, sustained trading below these levels marked deeper capitulation phases.
However, macroeconomic headwinds remain firmly in place. Elevated oil prices, driven by ongoing tensions in the Middle East, have complicated the outlook for monetary policy, potentially delaying interest rate cuts or reinforcing tighter financial conditions.
At the same time, emerging concerns around quantum computing and its long-term implications for cryptographic security are adding to market uncertainty.
Still, bitcoin has shown some resilience, inching higher since the escalation of geopolitical tensions — a sign that demand has not entirely evaporated despite the broader risk-off environment.
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