Bitcoin Nears Record Six Consecutive Red Monthly Closes as Price Hold at $66K
TLDR:
- Bitcoin has closed red for five straight months, from October 2024 through February 2025.
- A sixth red monthly close would tie the longest losing streak ever recorded in Bitcoin’s history.
- Analyst van de Poppe identifies $60K as the ideal long entry if Bitcoin continues sweeping lower
- A clear break above $71K is the key level analysts say could fully reverse Bitcoin’s bearish trend.
Bitcoin is facing one of its most closely watched monthly closes in recent memory. The leading cryptocurrency has recorded red monthly closes for five straight months, from October through February.
March is on course to extend that run to six months. Currently trading at $66,000, the asset remains down on the month.
A sixth red monthly close would tie the longest streak in Bitcoin’s history. That record was last set between August 2018 and January 2019.
Bitcoin’s Longest Losing Streak on Record Within Reach
The asset closed red in October, November, December, January, and February, marking five straight losing months. Trader Jeremy, known as @Jeremybtc on X, noted the historic nature of this run.
He pointed out that six consecutive red closes would match a record set between August 2018 and January 2019. March closes on Tuesday, with the price still sitting below its monthly open.
That prior streak bottomed with Bitcoin near $3,400 at its lowest point. The asset then rallied roughly 300% over the following five months.
The 2018–2019 cycle remains one of the most referenced periods in the cryptocurrency’s short trading history. Many traders continue using it as a framework for reading current price behavior.
Bitcoin’s current level of $66,000 sits well above those earlier lows. The present correction, therefore, operates from a much higher base than the 2018 example.
Even so, the pattern of consecutive losing months draws clear comparisons between both periods. Traders are watching closely whether March confirms the sixth consecutive red monthly close.
The monthly close carries weight for both short-term traders and long-term holders. Any price movement before Tuesday could still shift the overall outcome.
For now, the current trajectory keeps a record-tying sixth red month firmly in view. Market sentiment has grown cautious as that deadline approaches.
Analysts Outline Key Price Levels to Watch
Crypto analyst Michaël van de Poppe, known as @CryptoMichNL on X, shared his near-term outlook. He described the price action as following the same path seen during a prior consolidation phase.
He added that the asset would likely hold its range briefly before sweeping lower. Van de Poppe identified $60,000 as the ideal entry point for long positions if prices fall further.
The analyst also outlined what could shift his cautious view toward the upside. He stated that a clear break above $71,000 would change the overall perspective on Bitcoin.
Without that breakout level being reached, further downside remains his base case. His stance reflects a measured approach to reading the present market structure.
Van de Poppe further disclosed his personal trading plan heading into April. He said he would dollar-cost average into his altcoin portfolio on April 1st.
Lower prices, in his words, would actually work in favor of that strategy. This method is widely used among experienced traders who treat market dips as accumulation opportunities.
Taken together, both viewpoints place the market at a clear inflection point this week. Lower prices could draw fresh buyers in, while a push higher may restart an upward trend.
Traders remain divided on which outcome emerges next. The Tuesday monthly close may provide the most telling directional signal yet.
The post Bitcoin Nears Record Six Consecutive Red Monthly Closes as Price Hold at $66K appeared first on Blockonomi.
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