Bitcoin hits the longest consecutive decline since the 2018 bear market, with a drop approaching historical extremes.

BlockBeats News, February 17 — According to Decrypt, if Bitcoin declines in February, it will mark the fifth consecutive month of decline, setting the longest losing streak since the 2018 bear market. Currently, February has already seen a drop of 13.98%.

Since falling from its October 2025 all-time high, Bitcoin has accumulated a decline of 52.44%, just 3.82 percentage points away from the maximum drawdown of 56.26% during the 2018 bear market, taking only 123 days.

The total market capitalization of the overall crypto market stands at $2.33 trillion, down 1.33% in the past 24 hours. The Fear and Greed Index has risen from 8 to 12 but remains in the “Extreme Fear” zone. The market prediction platform Myriad indicates that traders currently assign a 60% probability that Bitcoin will first reach $55,000 rather than $84,000.

On the technical side, Bitcoin’s price remains below the 200-day exponential moving average (EMA200), with EMA200 also below the EMA50, indicating that bearish momentum is dominant. The Relative Strength Index (RSI) is at 34.7, in the bearish zone; the Average Directional Index (ADX) is at 56.4, showing that the current downtrend is strong.

Analysis suggests that to reverse the trend, Bitcoin needs to break above $100,000 or form a structural reversal pattern with sustained higher lows. Currently, the market remains in a relatively prolonged downward phase in historical terms.