Bitcoin faces first four-month losing streak since 2018

Bitcoin is at risk of closing with its fourth consecutive monthly decline, a losing streak not seen since a six-month downturn in 2018, CoinDesk reported. The cryptocurrency has fallen approximately 36% from its peak after reaching an all-time high in October of last year. The media outlet noted that such a prolonged downturn did not occur even during the severe market collapse of the 2022 bear market. However, despite weakness in the spot price, short-term optimism is building in the derivatives market, centered on bullish options bets.