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Bitcoin is facing one of its longest losing streaks in history, on track to close a fifth consecutive down month. From October’s peak near $87,700, it has fallen to about $68,700, sending shockwaves through the crypto market.
Ghosts of 2018
The current slump recalls the 2018 bear market, when Bitcoin lost nearly half its value in just three months. Investor sentiment is shaky, with many fearing the slide may continue before any real recovery.
Global Markets Add Pressure
Traditional markets, especially tech stocks, are also volatile, creating additional headwinds for cryptocurrencies. The combined uncertainty has amplified fear, prompting many to sell off holdings.
Brief Relief, Lingering Doubts
Bitcoin saw a short rebound in mid-February, offering some hope. Long-term holders are still mostly profitable, suggesting recovery is possible—but experts warn any bounce is fragile without a major shift in market confidence.
Altcoins Hit Harder
Ethereum and other major cryptocurrencies have dropped even more sharply, showing that the market as a whole is under strain. Despite the losses, Bitcoin has historically bounced back after prolonged slumps. Growing institutional interest and long-term investor confidence may support a future recovery. Traders are watching key price levels closely to see when the market may stabilize. While a short-term rebound is possible, Bitcoin remains in a cautious, corrective phase.
