Bitcoin Edges Toward Record-Tying Losing Streak as Pressure Builds

Bitcoin is approaching a rare six-month run of consecutive losses, highlighting persistent downside risks in the current macro environment.

The cryptocurrency is trading around $66,600 and needs to close above $67,300 to avoid extending its monthly losing streak. A failure to do so would mark six straight months of declines — a feat last seen between August 2018 and January 2019, according to Coinglass data.

Recent performance underscores the steady deterioration. Bitcoin fell 4% in October, plunged 18% in November, and slipped another 3% in December. The trend has continued into 2026, with January and February logging losses of 10% and 15%, respectively, while March remains slightly in the red.

Although the previous six-month slide was followed by a recovery phase, current signals suggest caution.

Bitcoin continues to hold above major long-term support levels, including its 200-week moving average near $59,000 and its realized price — an on-chain estimate of the average investor cost basis — around $54,000. In past bear markets, deeper drawdowns have typically seen prices fall below and remain under these levels.

Macro headwinds remain firmly in place. Elevated oil prices, driven by prolonged geopolitical tensions in the Middle East, are tightening financial conditions and complicating the outlook for interest rate cuts.

Adding to the uncertainty are renewed concerns over quantum computing and its potential long-term impact on cryptographic security.

Still, bitcoin has shown some resilience, managing to hold steady and edge higher since the escalation in geopolitical tensions — a sign that demand has not fully weakened despite the broader risk-off tone.