bitcoin is on track to match a joint record of six consecutive monthly losses, set only once between August 2018 and January 2019, according to data from Coinglass.
Currently at $66,600, BTC would need to rise a little over 1% in the next 15 hours to close above the $67,300 level where it started the month.
According to data from Coinglass, bitcoin fell 4% in October, 18% in November and 3% in December. The downward trend continued in 2026, with a drop of 10% in January, 15% in February and in March, currently with a drop of around 1%.
The last time Bitcoin recorded six consecutive months of declines was between August 2018 and January 2019. That period was followed by five consecutive months of gains, offering Bitcoin bulls a modest historical precedent for a possible recovery.
Downside risks persist
However, unlike the experience of 2019, the technical aspects and the macroeconomic situation suggest that the pressure could continue.
Bitcoin remains above key long-term support levels, including its 200-week moving average of $59,268 and its realized price (the basis of on-chain average cost) of $54,177, according to data from Glassnode. In previous bear markets, bitcoin typically fell below both levels and stayed there for a sustained period.
Macroeconomic conditions also remain an obstacle. The ongoing conflict in the Middle East has kept oil prices above $100 a barrel for more than a month, complicating central banks’ policy decisions on whether to cut rates or further tighten. At the same time, renewed concerns about the risks of quantum computing have added another layer of uncertainty.
One possible bright spot is that bitcoin has risen slightly since the start of the Middle East conflict, suggesting some resilience despite the broader risk-off environment.
