In line with month-to-month return information from Coinglass, 2026 is presently on observe to be unprecedentedly bearish for the main cryptocurrency.
For the primary time in its 17-year historical past, Bitcoin is on observe to shut each January and February within the purple.
After all, Bitcoin has endured “crypto winters” earlier than, nevertheless it has by no means begun a calendar yr with back-to-back month-to-month losses. Till now.
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The “double purple” anomaly
After beginning the yr on a excessive notice by January 2026 and surging above $97,000, the main cryptocurrency closed down 10.17%.
It ended up crashing to $60,000 in February, and it’s nonetheless on observe to log a 12.12% regardless of its partial restoration.
Traditionally, Bitcoin consumers have stepped in throughout February to arrest any January slides.
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In the course of the 2018 bear market, Bitcoin fell 25.41% in January however rebounded 0.47% in February.
In 2022, Bitcoin fell 16.68% in January however bounced 12.21% in February.
In 2015, Bitcoin fell 33.05% in January however surged 18.43% in February.
The looming March report
The bearish momentum has analysts eyeing a probably historic milestone.
The market is presently enduring a relentless 5-month sell-off. If March 2026 closes within the unfavorable, Bitcoin will set a brand new, unprecedented report of six consecutive purple months, formally marking this the longest bearish streak within the asset’s historical past.
Till now, the one different time Bitcoin dropped for 5 straight months was through the notorious 2018 crash.
Horrible underperformance
The unprecedented bearishness is being pushed by a confluence of distinctive market forces that have been absent in earlier cycles.
Reviews from 10x Analysis counsel that the crash from $90,000 to $60,000 was triggered by the pressured liquidation of a significant Hong Kong hedge fund.
The shortcoming of the market to soak up this liquidity shock has saved costs suppressed all through January and February.
Worry has additionally gripped the market relating to the solvency of main holders. As Bitcoin costs slipped beneath key assist ranges, Technique was pressured to publicly reassure traders that it might stand up to a drop to $8,000 with out defaulting on its money owed. The truth that the world’s largest company holder is brazenly discussing “excessive draw back” situations will not be precisely reassuring.