Bitcoin Eyes Rare Fourth Straight Monthly Loss Ahead of Options Expiry

Bitcoin is on track for a fourth consecutive monthly decline, a streak not seen since 2018–2019, when the market recorded six straight losing months. With one week left in January, the cryptocurrency trades near $87,000, slightly down for the month.

The asset closed October through December in the red, falling roughly 36% from its October all-time high. Even during the 2022 bear market, when bitcoin tumbled from $69,000 to $15,000 amid market tightening and crypto-specific shocks, it never posted more than three consecutive losing months, highlighting the unusual nature of the current streak.

Derivatives markets show some cautious optimism. Data from Deribit indicates modest upside interest into month-end, with total open interest of around $8.5 billion set to expire on Jan. 30. The $100,000 call option carries the largest notional value—close to $900 million—while the max pain price, near $90,000, may influence price action as expiry approaches.