 ▲ Bitcoin (BTC) / ChatGPT-generated image |
Bitcoin (BTC) has continued its downward trend for five consecutive months, delivering a major shock to the market. After posting a double-digit plunge in February alone, investor sentiment has cooled sharply.
According to cryptocurrency media outlet CryptoPotato on March 2 (local time), Bitcoin fell about 12% in February, marking its fifth consecutive monthly decline. It is the first time since the 2022 bear market that Bitcoin has posted losses for five straight months, raising concerns that a prolonged downtrend may be taking hold. The price of Bitcoin is fluctuating around the $60,000 level, testing its support.
Market analysts attribute Bitcoin’s slump to macroeconomic uncertainty and excessive leverage in the futures market. With capital inflows into spot Bitcoin ETFs stagnating, buying momentum has weakened. Experts warned that “if Bitcoin fails to hold the $60,000 support level, it could fall to $55,000,” leaving open the possibility of further declines.
Major altcoins, including XRP, are also plunging in tandem with Bitcoin’s decline. XRP has failed to defend key support levels, facing intensifying downward pressure. Investor fear has reached extreme levels, and many believe there is no clear positive catalyst across the market to help restore confidence.
Bitcoin’s five-month losing streak is expected to remain a historic record. The digital asset market is currently struggling without a clear rebound momentum. As volatility centered on Bitcoin increases, anxiety over the market’s next move is spreading among investors.
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