Market analysts spar as bitcoin heads for worst five-month losing streak since 2018

Bitcoin is on track to record its fifth consecutive monthly decline in February, marking its worst losing streak since 2018 and its worst start to a year on record, with BTC down over 25% year-to-date. Analysts are divided on the implications. Mati Greenspan views the drop as a "structural regime shift" and early repricing, suggesting that if equities remain cyclical while Bitcoin acts as a sovereign hedge, the divergence is structurally bullish. Conversely, Jonatan Randin argues Bitcoin lacks a current narrative and is being squeezed by macro pressures, ETF outflows, and Fed uncertainty, pointing out its sharp underperformance relative to gold. Randin cautioned that the 52% drawdown from October highs might only be halfway through a correction, citing historical bear market patterns. While technical indicators like the weekly RSI are at historic lows, Randin suggests another 30% to 40% drop could precede a definitive low. Both analysts agree that reclaiming the $68,000–$72,000 zone is necessary to end the current streak, with $60,000 serving as key near-term support.

(Source：CoinDesk)