NewsBTC
Mar 3, 2026
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BEARISH 📉 : Bitcoin records fifth consecutive monthly loss in February

Bitcoin (BTC) concluded February with its fifth consecutive monthly loss, a rare occurrence in its history.

Market Dynamics

  • Bitcoin dropped to around $63,000 last Saturday, a 15% decrease for February.
  • The start of March saw a slight recovery, opening at $68,600 with a gain of over 3%.
  • Resistance remains strong at the $70,000 level.

Bitcoin

Geopolitical tensions in the Middle East have had limited market impact. Markus Thielen from 10x Research notes increased demand for Bitcoin call options, indicating potential bullish sentiment ahead of the Federal Reserve meeting.

Historical Comparisons

  • The last similar pattern of red candles occurred during the 2018–2019 bear market.
  • This was followed by a sharp reversal and a 308% surge in Bitcoin's price.

Analyst Perspectives

  • Ash Crypto suggests a potential cyclical bottom if historical trends repeat, potentially leading to a 300% increase toward $272,000.
  • Technical analyst Virtual Bacon remains cautious, predicting possible further retracement to $58,000, aligning with the 200-week SMA, a historically significant support level.

Bitcoin

The 200-week SMA has been a reliable long-term accumulation zone, supporting key market bottoms in past downturns.