#bitcoin is close to printing a downside record nobody wanted to see.
$BTC is now about to close its 6th straight month in red
and this kind of streak has only happened once before in its full history.
The last time it happened was from Aug 2018 to Jan 2019
when Bitcoin dropped around 60 percent across those six months.
This time the drawdown is already near 47 percent from the peak
so yes this is a serious stretch even if it is still smaller than the last one.
Bitcoin is now pushing into one of the weakest monthly runs it has ever seen
and that says a lot about how heavy this market has become.
BTCUSDT
Perp
65,832.8
-0.77%