Bitcoin Eyes Five-Month Selloff as 2018 Bear Returns Loom
Bitcoin is on track for its longest losing streak since 2018, potentially five straight red months if February closes red, as BTC trades around $67.6k after a ~52% drop from October’s high and near the 2018 bear drawdown of ~56%. The total crypto market cap sits near $2.33 trillion amid broader macro weakness in equities and ongoing liquidations. Technically, BTC remains below the EMA200 and EMA50 with RSI ~34.7 and ADX ~56, signaling strong bearish momentum. Prediction markets show about a 60% chance BTC tests $55k before $84k, underscoring a continued bearish-to-sideways setup unless a sharp rally materializes.