Bitcoin on Tempo for Longest Shedding Streak Since 2018 Bear Market – Decrypt

The crypto market is bleeding. And the injuries hold deepening.

Bitcoin trades at $67,621 at present, down 1.70% within the final 24 hours. However this is not simply one other dangerous day—it may probably assist mark probably the most extended bear runs in Bitcoin historical past.

If February closes crimson, Bitcoin will full 5 consecutive months of losses, the longest streak since June 2018 when Bitcoin was down for six months. With February already down 13.98%, the indicators aren’t promising.

The accrued losses from October 2025’s all-time excessive now attain 52.4% over 123 days. For perspective, the earlier longest dropping streak—that 2018 nightmare—registered a 56.26% drop over 153 days. Bitcoin is simply 3.82 proportion factors away from matching that report in much less time.

The entire cryptocurrency market capitalization stands at $2.33 trillion, down 1.33% within the final 24 hours. The Worry & Greed Index rose marginally from 8 to 12 factors, however nonetheless in “excessive worry.”

The macro backdrop seems equally fragile. The S&P 500 and Nasdaq have slipped amid tech-sector jitters after Microsoft shed roughly 10% regardless of robust earnings, spooking traders. In the meantime, valuable metals have turned unstable: on Jan. 30, silver futures plunged about 31%—their steepest one-day drop since 1980—whereas gold additionally pulled again from latest highs.

Compelled liquidations—when derivatives merchants’ positions are routinely closed at sure costs—proceed battering the market. Since January 12, there has not been a single day during which bear liquidations beat bullish positions, in keeping with Coinglass knowledge.

Talking of bearish sentiment. On Myriad, a prediction market developed by Decrypt’s mum or dad firm Dastan, odds shifted once more from bullish to bearish on bets wagering on Bitcoin’s near-term future. Presently, prediction market merchants are favoring a state of affairs the place BTC touches $55K earlier than $84K with 60% odds. That sentiment shift in prediction markets—the place individuals put cash behind their opinions—is difficult to disregard.

Bitcoin (BTC) worth evaluation: The alerts do not lie

Bitcoin’s charts paint an equally grim image on the day by day timeframe. Bitcoin is at the moment buying and selling sideways after the large spike on February 6. Nevertheless, the worth has not been capable of resume an upwards development and stays under the typical worth of the final 200 days, which merchants establish because the EMA200. This reveals how weak bulls at the moment are.

This setup (present worth buying and selling under the EMA200 and this being decrease than the typical worth of the final 50 days, or EMA50) sometimes alerts strong bearish momentum. When each EMAs, in any other case referred to as exponential transferring averages, sit above the present worth, they act as dynamic resistance—ranges the place sellers have a tendency to seem.

The Relative Power Index, or RSI, sits at 34.7. RSI measures shopping for and promoting momentum on a 0-100 scale. An RSI of 34.7 locations Bitcoin in bearish territory, although it hasn’t reached excessive oversold ranges. This implies destructive momentum dominates, however there’s nonetheless room for additional declines earlier than technical circumstances recommend a bounce.

The Common Directional Index, or ADX, stands at 56.4—nicely above the 25 threshold that confirms development power. ADX measures development power with readings above 25 indicating a robust development is in place. With ADX at 56.4 and worth falling, this confirms the bearish development has very robust momentum.

Can Bitcoin Recuperate?

A Bitcoin bounce after such a pointy drop is certainly doable, however even when it does, it could be untimely to name it a development reversal.

For merchants to start speaking a few bullish motion, the worth of Bitcoin would wish to point out at the very least considered one of two unlikely situations: Both a large restoration previous the $100K mark to renew the 2024-2025 development, or a constant collection of candlesticks with greater lows respecting at the very least a help just like the one proven within the dotted inexperienced line under (extension of the earlier development).

For now, Bitcoin stays trapped in probably the most persistent downtrends in its historical past. And with simply two weeks left in February, the clock is ticking to keep away from that fifth consecutive crimson month.