Bitcoin is on track to see 5 pink months in a row, as it’s at present down over 16% to begin this month after closing the final 4 consecutive months within the pink. The Bitcoin decline has additionally impacted the crypto market, which has misplaced a good portion of its market worth throughout this era.
Bitcoin Dealing with 5 Pink Months As Crypto Market Struggles
Cryptorank knowledge present that Bitcoin is now dealing with its fifth consecutive pink month, down 16% this month after closing October, November, December, and January within the pink. The final time this occurred to BTC was in 2018, when it entered a bear market after reaching report highs in 2017. The crypto market can also be dealing with draw back strain, having misplaced practically half of its market worth since October.
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Crypto analyst Benjamin Cowen has said that October 2025 marked the highest for Bitcoin and the crypto market and that they’re now in a bear market. He famous that bear markets don’t final and that higher instances will come. He additional opined that October 2026 is an efficient time for a market low, although he added that he’s open to the underside occurring sooner if the meltdown accelerates.
Bitcoin crashed over 13% yesterday, dropping to as little as $60,000 because the crypto market sell-off accelerated. Plenty of components are believed to have contributed to this bearish value motion, together with the Fed’s hawkish pivot following final week’s FOMC assembly, the place they determined to carry charges regular. Moreover, Trump nominated Kevin Warsh as the subsequent Fed chair, and the markets reacted negatively to the nomination.
In the meantime, Bitcoin continues to face vital promoting strain from the BTC ETFs, which have recorded three consecutive months of internet outflows. SoSoValue knowledge present these funds are on track to report a fourth straight month of internet outflows, with $690 million in internet outflows this month.
BTC May Nonetheless Drop To $42,000
Veteran dealer Peter Brandt predicted {that a} Bitcoin drop to $42,000 was on the playing cards, however that it’s unlikely to go a lot decrease. This got here as he said that the bulls wouldn’t have to endure too “far south of $42,000” if BTC digs into the Banana peel as deeply as in previous bear market cycles. He added that it’s a “hop, skip, and leap” from that degree. The broader crypto market can also be anticipated to discover a backside when BTC bottoms.
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In an earlier X put up, Brandt said that Bitcoin’s decline has all “the fingerprints of marketing campaign promoting, not retail liquidation” and that it’s all the time unknown when such a sample ends. His remark got here simply earlier than the BTC decline under $63,000, which he highlighted as the subsequent goal for the main crypto.
On the time of writing, the Bitcoin value is buying and selling at round $65,800, down over 6% within the final 24 hours, in keeping with knowledge from CoinMarketCap.
Featured picture from Pngtree, chart from Tradingview.com
