Bitcoin Experiences 5th Consecutive Red Month: Where’s the Bottom?

Bitcoin (BTC) is making a fifth consecutive red monthly candlestick, which would be the longest losing streak since 2018. The silver lining data suggests that March could be a profitable month for BTC.

Previous multi-month lows have been followed by 300% price gains.

Historical price data from CoinGlass confirms that Bitcoin is now experiencing its fifth straight month in the red, down 15% this month after closing the previous four months in the red.

The last time this happened was in 2018, when it entered a bear market after reaching its peak in 2017.

“The last time this happened was in 2018/19 when we saw 6 red months,” analysts at macro investors Milky Way said in an X-Post on Thursday.

This led to a reversal of over 316% returns over the next five months, the analysts said, adding:

“If history repeats itself, the reversal will begin on April 1.”

Analyzing Bitcoin's quarterly performance during the 2022 bear market provides a more nuanced interpretation of BTC price history. The data shows that Bitcoin has recorded four consecutive red quarters in that year.

The losses accumulated in the four quarters, bringing the total loss to 64%, when the BTC/USD pair closed the year at $16,500 from the opening price of $46,230. This marked one of the worst crashes in Bitcoin history.

As Cointelegraph reports, many analysts expect 2026 to be a bear market year, and a similar stretch of four losses could extend weakness below the 15-month low of $60,000.

Analyst Solana Sensei has shared a chart focusing on Bitcoin's weekly performance, with the price posting its fifth candlestick in a row.

This is the longest losing streak since 2022 and the second-longest losing streak on record.

In 2022, the price of BTC saw nine red weeks, falling from $46,800 to $20,500.

So, while past monthly performance points to an imminent recovery, quarterly and weekly data suggest that BTC's price decline may last longer than expected in 2022.

RELATED: Bitcoin Consolidation Nears ‘Turning Point' As $70K Focuses: Analyst

The current market is “fundamentally different.”

Veteran analyst Sykodelic argues that Bitcoin's current bear phase is “fundamentally different,” with its monthly Relative Strength Index (RSI) already reaching the lows of the 2015 and 2018 bear markets.

Psychedelic says that in the absence of a true overbought spread in the bull phase of the monthly RSI, market participants would be wrong to expect a bearish decline.

“This is another scenario where we're looking at 2020 again,” the analyst said in a post on X.

“I'm not seeing anything that tells me we're in the same bear market as we've been in the past, and everyone should be aware of these differences.”

This indicates that the current bear cycle is not following historical patterns, and Bitcoin's bottom and continued recovery could catch many traders off guard.