Bitcoin (BTC) is headed for a fourth consecutive monthly decline, its worst downturn since 2018 as the cryptocurrency winter deepens.
From late 2018 to mid-2019, Bitcoin recorded six straight months of price declines. While there is still one trading week left in January, Bitcoin remains down on the month at $87,800 U.S.
Bitcoin’s current slump has been worsening since last October. Peak to trough, Bitcoin has fallen 36% since hitting an all-time high of $126,000 U.S. in early October 2025.
Even during the 2022 bear market, when Bitcoin plunged from $69,000 U.S. to $15,000 U.S., it only produced three consecutive monthly declines.
Bitcoin has made several attempts to rise above $95,000 U.S. in recent months, but each attempt has failed, sending the price back below the key threshold of $90,000 U.S.
Some analysts are now calling the current drawdown in Bitcoin “historic” and say the price of the largest cryptocurrency could remain depressed for several more months.
Investors’ risk appetite has waned as evidenced by the continued record-breaking rallies in the prices of gold and silver.
At the same time, there are few if any near-term catalysts on the horizon for cryptocurrencies.
Bitcoin’s ongoing decline mirrors a drawdown in other digital assets such as Ethereum (ETH), Solana (SOL) and XRP (XRP).
