Bitcoin's Six-Month Losing Streak: Here's What's Breaking Down This Week

Bitcoin is staring down a historical rarity—potentially its first six consecutive months of losses since the brutal 2018 bear market. As BTC approaches the March monthly close, geopolitical tensions and macro headwinds are keeping sellers firmly in control. Here's what traders need to watch.

Bitcoin Price Action: $65K Under Pressure

BTC dropped to $65,000 last week before a modest rebound, signaling serious weakness heading into the weekly close. Technical analysts are pointing to a textbook bear flag breakdown reminiscent of January's selloff, with multiple sub-$50,000 price targets already circulating.

The technical structure tells the story: Bitcoin has broken below the $68,300 long-term trend line that was supposed to act as support. Now that level sits as resistance. Lower highs are forming on the 4-hour chart, and traders expect $67,500 to be the next focal point for Monday's action.

"BTC is showing a clear shift in structure on the 4H, with price forming lower highs and losing the 68–69k support, which now acts as resistance," Technical Crypto Analyst noted on Telegram. "Unless price quickly reclaims 69–70k, the path of least resistance remains downward toward the 65k demand zone."

Short-term momentum is unambiguously bearish. As trader Jelle put it: "BTC's local uptrend is over—bears are back in the drivers' seat." The repeat bear flag breakdown from January isn't coincidental; it's confirmation that selling pressure remains structural.

Geopolitical Risk Amplifies Crypto Volatility

Iran war headlines are dominating macro sentiment, and the implications for energy markets are rippling through everything—including crypto.

President Trump signaled a "big day" militarily, with reports suggesting plans for potential US ground operations in Iran. The Wall Street Journal reported consideration of a complex military mission to extract uranium, one that could keep American forces in-country for extended periods. This isn't background noise; it's moving markets.

The fallout is immediate. Tanker traffic through the Strait of Hormuz remains constrained, triggering an oil-supply crisis that's strangling global energy markets. Asian stock markets opened sharply lower on Monday as the reality set in.

Macro Backdrop: Stocks Bleed, Rates Rise, Fed Signals Caution

The S&P 500 just completed five consecutive weeks of losses—the longest streak since Russia's 2022 invasion of Ukraine. Energy price pressures are translating directly into inflation concerns, which is reshaping Federal Reserve expectations.