Bitcoin Risks Tying Record 6-Month Losing Streak
Bitcoin is challenging a historic bearish milestone as March comes to a close. After recording negative monthly performance from October 2025 through February 2026, the leading cryptocurrency is currently on track for its sixth straight red month. This would tie the longest losing streak in its history, a record set during the 2018-2019 bear market. As of publication, Bitcoin is trading at $66,297, reflecting a 6.15% decline over the past seven days. The persistent selling pressure has kept the asset in a tight range, with bulls unable to push the price decisively higher.
Last Streak in 2019 Preceded a 300% Rally
While a six-month decline signals sustained weakness, historical data provides a compelling counter-narrative. The only other time Bitcoin experienced such a streak was from August 2018 to January 2019. At the end of that period, Bitcoin’s price sat near $3,400, marking a cyclical bottom. What followed was a powerful reversal, with the asset rallying approximately 300% over the next five months. Analysts note that February 2019, the month immediately following the end of the streak, posted an 11% gain. Though the sample size is limited to a single occurrence, this precedent has traders closely watching for signs of a similar market capitulation and subsequent recovery.
Analysts Eye $59,000 as Key Technical Support
Market participants are now focused on key technical levels that could determine Bitcoin's next major move. A critical support zone has formed between $59,000 and $60,000. This area is anchored by Bitcoin's 200-week moving average (200WMA), a long-term trend indicator that has historically served as a floor during bear markets. Analyst Michaël van de Poppe identified a potential dip to $60,000 as an "ideal area for longs." Conversely, for a bullish trend to regain control, analysts suggest a sustained break above $71,000 is required to signal a definitive reversal of the current downtrend.
