Bitcoin on the brink of its longest losing streak on record

Bitcoin (BTC-USD) hovered astir $67,200 connected Tuesday, connected the brink of either snapping a five-month losing streak oregon extending losses for the longest play successful the token's history.

"BTC has ne'er recorded 6 consecutive monthly declines successful its 17-year history," Compass Point expert Ed Engel wrote.

After declining for 5 consecutive months from October to February, bitcoin was trading wrong 1% of February's $67,000 closing price, the expert noted.

Bitcoin has shown much resilience than equities arsenic the S&P 500 (^GSPC) has declined astir 6% implicit the past month, portion golden (GC=F) has dropped astir 10%.

Although the token seemed overdue for a alleviation rally, "blockchain information inactive indicates bearish flows which increases our assurance that BTC retests the $60k lows," Engel wrote.

"March's resilience looks similar a textbook alleviation rally wrong a broader crypto winter," helium added.

Read much astir bitcoin's moves and today's marketplace action.

Fundstrat caput of integer assets Sean Farrell has besides remained unconvinced of bitcoin's caller resilience.

"I inactive stay measured here," Farrell said successful a lawsuit video connected Monday night. "I deliberation it's inactive a bully spot to sphere capital, support adust powder, enactment nimble, and look for things to alteration successful a much conclusive direction."

Meanwhile, Bernstein analysts precocious noted that the token whitethorn yet person reached a debased point.

"Bitcoin looks bottomed," Bernstein expert Gautam Chhugani wrote successful a enactment past week. The steadfast reaffirmed its $150,00 terms people for the extremity of 2026.

The expert pointed to investors reentering into exchange-traded funds successful caller weeks arsenic ETFS present clasp much than 6% of the supply. Digital plus Treasury elephantine Strategy (MSTR) has besides remained a beardown buyer, presently holding astatine slightest 3.6% of full supply.

Ines Ferre is simply a elder concern newsman for Yahoo Finance. Follow her connected X astatine @ines_ferre.

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