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Bitcoin fell on Friday, halting a brief rebound from midweek lows as fragile risk appetite continued to weigh on speculative assets. The world’s largest cryptocurrency is now on course for its fifth consecutive month of steep declines, underscoring the depth of the downturn gripping the crypto market.
Bitcoin slipped nearly 1% to $67,788 by 00:48 ET (05:48 GMT), while broader crypto prices moved cautiously lower, mirroring Bitcoin’s weakness. The sector as a whole is set to log sharp losses for February, as both retail and institutional investors largely stay on the sidelines.
Bitcoin heads for fifth straight month of heavy losses
Bitcoin was down close to 14% in February, with little sign that the risk-off trend in cryptocurrencies is easing. Persistent geopolitical tensions, uncertainty surrounding major global economies, and renewed fears of disruption from U.S. trade tariffs have continued to dampen appetite for high-risk assets.
At its worst this month, Bitcoin was trading nearly 50% below its October record high, before staging a modest recovery. Even so, the broader trend remains decisively negative, with Bitcoin locked in a near-continuous losing streak since October.
Buying activity from major corporate holder Strategy has so far failed to stabilize prices. In fact, Strategy has slowed the pace of its Bitcoin purchases in recent months, amid growing concerns that sustained price weakness could eventually force the company to sell part of its holdings to meet debt obligations.
MARA jumps on AI pivot despite heavy losses
In contrast to the broader market gloom, shares of MARA Holdings (NASDAQ:MARA), formerly Marathon Digital, surged in after-hours trading on Thursday. The Bitcoin miner rallied as much as 17% after announcing a deal with Starwood Capital to repurpose some of its mining sites into artificial intelligence data centers.
The AI-focused announcement overshadowed grim fourth-quarter results, which included a $1.7 billion loss as prolonged Bitcoin weakness made mining operations deeply unprofitable. Revenue also missed expectations. Like several peers, MARA is increasingly pivoting toward AI infrastructure, seeking to redeploy its computing capacity amid waning crypto profitability.
Altcoins fade as February losses mount
Elsewhere in the crypto market, a short-lived rebound earlier in the week lost momentum. Ether, the second-largest cryptocurrency, fell 1.2% to $2,038.21 and was on track for a nearly 17% drop in February. Sentiment around Ether has been hit particularly hard by reports that founder Vitalik Buterin has sold additional holdings.
XRP slid 2.3% and was heading for a roughly 15% monthly loss, while BNB was little changed on Friday but remained down nearly 20% for February.
Overall, despite occasional bouts of bargain buying, crypto markets continue to struggle under the weight of macroeconomic uncertainty and waning investor confidence.
