Bitcoin is currently enduring its longest losing streak since the 2018 bear market, having dropped 52.44% from its all-time high in October, with predictions pointing towards a potential decline to $55,000 before recovering to $84,000. As of today, Bitcoin’s price is $67,621, down 1.70% in the past 24 hours, and should February close negatively, it would mark five consecutive months of losses, nearing the 56.26% drop experienced during the 2018 downturn. This bearish trend is reinforced by broader market conditions, including declines in equity indices like the S&P 500 and Nasdaq due to tech sector jitters, and technical indicators showing Bitcoin trading below key moving averages, highlighting weak bullish momentum.
Bitcoin nears record five-month losing streak as prices drop 1.7%
