On February 17th, Decrypt reported that if Bitcoin closes lower in February, it will mark its fifth consecutive month of decline, the longest losing streak since the 2018 bear market. The current February drop is already 13.98%.
Since its all-time high in October 2025, Bitcoin has fallen by 52.44%, just 3.82 percentage points away from the largest retracement of 56.26% in the 2018 bear market, taking only 123 days.
The total market capitalization of the crypto market is $2.33 trillion, down 1.33% in the last 24 hours. The Fear & Greed Index rose from 8 to 12, but remains in the "extreme fear" range. Myriad market forecasters currently bet a 60% probability that Bitcoin will reach $55,000 instead of $84,000.
Technically, Bitcoin's price remains below the 200-day exponential moving average (EMA200), and the EMA200 is lower than the EMA50, indicating that bearish momentum is dominant. The Relative Strength Index (RSI) is at 34.7, in bearish territory; the Directional Movement Index (ADX) is at 56.4, showing a strong current downtrend.
Analysts point out that for Bitcoin to reverse the trend, it needs to climb back above $100,000 or form a structural reversal pattern with continuously rising lows. Currently, the market remains in a historically sustained downtrend.
