Bitcoin on Pace for Longest Losing Streak Since 2018 Bear Market

The crypto market is bleeding. And the wounds keep getting deeper.

Bitcoin is trading today at $67,621, down 1.70% in the past 24 hours. But this isn’t just a bad day; it could potentially mark one of the longest bear runs in Bitcoin history.

If February closes in red, Bitcoin will complete five consecutive months of losses, the longest streak since June 2018, when Bitcoin was in trouble for six months. With February already down 13.98%, the signs are not promising.

Accumulated losses from the all-time high in October 2025 now stand at 52.4% over 123 days. For perspective, the previous longest losing streak – the 2018 nightmare – recorded a 56.26% decline in 153 days. Bitcoin is just 3.82 percentage points away from tying that record in less time.

The total cryptocurrency market capitalization stands at $2.33 trillion, down 1.33% in the past 24 hours. The Fear and Greed Index increased marginally from 8 to 12 points, but still in “extreme fear”.

The macro background looks equally vulnerable. The S&P 500 and Nasdaq have slumped amid turmoil in the technology sector after Microsoft fell about 10% despite strong gains, spooking investors. Meanwhile, precious metals have become volatile: On January 30, silver futures fell about 31% – the steepest one-day drop since 1980 – while gold also retreated from recent highs.

Forced liquidations – where derivatives traders’ positions are automatically closed at certain prices – continue to plague the market. Since January 12, there hasn’t been a single day where bear liquidations beat bullish positions Mint glass facts.

Talk about bearish sentiment. On Myriada prediction market developed by DeclutterAt parent company Dastan, the odds once again shifted from bullish to bearish on bets on Bitcoin’s short-term future. Currently, prediction market traders prefer a scenario where BTC hits $55K before $84K at 60% odds. That shift in sentiment in the prediction markets – where participants put money behind their opinions – is difficult to ignore.

Bitcoin (BTC) price analysis: the signals don’t lie

Bitcoin’s charts paint an equally bleak picture of the daily time frame. Bitcoin is currently trading sideways after the major spike on February 6. However, the price has not been able to resume an uptrend and remains below the average price of the past 200 days, which traders identify as the EMA200. This shows how weak bulls are right now.

This setup (current price trading below the EMA200 and it is lower than the average price of the past 50 days, or EMA50) usually indicates solid bearish momentum. When both EMAs, also known as exponential moving averages, sit above the current price, they act as dynamic resistance levels: levels where sellers tend to appear.

The Relative Strength Index, or RSI, stands at 34.7. RSI measures buying and selling momentum on a scale of 0-100. An RSI of 34.7 puts Bitcoin in bearish territory, although it has not yet reached extreme oversold levels. This means negative momentum dominates, but there is still room for further declines before technical conditions signal an upturn.

The Average Directional Index, or ADX, stands at 56.4 – well above the threshold of 25 that confirms trend strength. ADX measures trend strength, with values ​​above 25 indicating a strong trend is present. With ADX at 56.4 and a falling price, this confirms that the bearish trend has very strong momentum.

Can Bitcoin recover?

A Bitcoin rebound after such a sharp decline is certainly possible, but even if it does, it would be premature to call it a trend reversal.

Before traders could talk about a bullish move, Bitcoin’s price would have to show at least one of two unlikely scenarios: either a huge recovery past the $100,000 mark to resume the 2024-2025 trend, or a consistent series of candlesticks with higher lows that at least respect a support similar to the one shown in the green dotted line below (extension of the previous trend).

For now, Bitcoin remains trapped in one of the most persistent downtrends in its history. And with just two weeks left in February, the clock is ticking to avoid that fifth consecutive red month.