Analysis: Bitcoin May Face Its First Four-Month Consecutive Decline Since 2018

Odaily News Bitcoin may be heading for its fourth consecutive monthly decline, a situation not seen since the record six-month losing streak from 2018 to 2019. Although there is still a full trading week left in January, Bitcoin has seen a slight decline for the month, with its price hovering around $87,000. Bitcoin previously recorded monthly closing declines in October, November, and December, marking a significant pullback from its all-time high in October. During this period, Bitcoin experienced a peak-to-trough decline of approximately 36%. Even during the 2022 bear market, when Bitcoin's price fell from $69,000 to $15,000, it did not experience more than three consecutive months of monthly declines. However, despite the weakness in spot prices, the derivatives market is showing some optimism. Data from Deribit indicates that call options with a strike price of $100,000 have the highest notional value, approaching $900 million, suggesting a significant number of traders are betting on a price rebound to six-figure levels. (CoinDesk)