Bitcoin Might Suffer Its Longest Monthly Decline Since 2018—And This Could Shake Markets Further. But here's where it gets controversial: some analysts believe this ongoing streak of losses could spell a bigger shift in the crypto landscape, or perhaps even mark a long-term bottom. The key question remains—are we witnessing a normal correction, or is this the start of a deeper downturn?
Bitcoin is currently on track to experience its fourth consecutive month of decline, a pattern that hasn't been seen since the brutal crypto bear market from 2018 to early 2019 when the cryptocurrency fell in six straight months. While the month isn't over yet—there’s still nearly a week of trading remaining—Bitcoin’s price hovered around $87,000 at the time of reporting, slightly down for January.
Looking back, Bitcoin finished negative in October, November, and December, marking a sharp correction from its all-time high in October, when it reached roughly $69,000. From its peak to its recent low, the cryptocurrency has plummeted approximately 36%, reflecting intense selling pressure and a turbulent market environment.
And this is the part most people miss: even during the 2022 bear market, when Bitcoin was decimated from $69,000 down to just $15,000 amid tightening monetary policies and industry shakeouts, it never experienced more than three months of consecutive declines. This historical perspective highlights just how rare—and potentially significant—this current four-month streak could be if the month closes lower.
Short-Term Sentiment: Cautiously Hopeful
Despite the ongoing weakness in spot prices, the options market presents a different story—suggesting some cautious optimism among traders. Data from Deribit indicates that options trading activity still hints at expectations of a potential rebound by the end of the month.
With an options expiry scheduled for January 30, roughly $8.5 billion worth of open interest is set to expire. Interestingly, the most prominent strike price among these options is $100,000—roughly $900 million notional—showing that many traders are still betting on the possibility of Bitcoin climbing back to six figures.
However, the
