Six Straight Red Candles: Bitcoin's Looking at Its First Six-Month Losing Streak Since 2018

Bitcoin heads into the March monthly close risking its sixth consecutive month of losses for the first time since the 2018 bear market, as Iran war headlines keep macro markets firmly in check. For those keeping score at home, that's not just a rough patch—it's starting to look like a full-blown identity crisis for the orange coin.

BTC price action touched $65,000 to start the week, with traders expecting a copycat bear flag breakdown. Because nothing says "bull market" quite like watching price action like a hawk waiting for another leg down. Classic vibes.

Price action revisits $65,000

Bitcoin faced last-minute selling into Sunday's weekly close, dropping to $65,000 before a modest rebound. Data from TradingView shows $67,500 forming a focus for Monday, with traders firmly risk-off on the short-term outlook. Translation: everyone's holding their breath and their satoshis simultaneously.

In its latest post to Telegram subscribers, analytics resource Technical Crypto Analyst wrote: "BTC is showing a clear shift in structure on the 4H, with price forming lower highs and losing the 68–69k support, which now acts as resistance; this confirms short-term bearish momentum, and unless price quickly reclaims 69–70k, the path of least resistance remains downward toward the 65k demand zone." In plain English: things are looking bearish, and that support everyone loved is now about as useful as a screen door on a submarine.

Last week, Cointelegraph reported on $70,000 rapidly becoming new resistance, with a key long-term trend line at $68,300 unable to function as support. The death cross of trend lines, if you will.

"BTC's local uptrend is over - as expected - and price is starting to move lower again," trader Jelle continued on Monday. "Testing the previous lows as resistance as we speak; bears are back in the drivers' seat." Pack your bags, we're going bear hunting—oh wait, we're the prey.

Others focused on the continuing breakdown of Bitcoin's second bear flag of 2026 — something that has already sparked sub-$50,000 BTC price targets. Because why aim for the moon when you can aim for the floor?

"Repeating the exact same bear flag breakdown like we saw in January," trader Roman summarized. Deja vu isn't just a feeling—it's a trading strategy at this point.

Iran war rattles stocks with inflation in focus

Macro markets remain highly sensitive to developments in the US-Iran war as April arrives. US President Donald Trump reported a "big day" militarily to start the week amid reports of plans for a ground invasion of Iran. Asia stock markets opened sharply down on Monday as the impact of the oil-supply crisis made its presence felt. Nothing like a geopolitical pickle to remind everyone that crypto doesn't trade in a vacuum.

"The ongoing tensions means that tanker traffic through the Strait of Hormuz remains limited, which continues placing strains on global energy markets along with uncertainty over access to fertilizer products for farming," trading resource Mosaic Asset Company commented in its newsletter, "The Market Mosaic." Your portfolio is one naval blockade away from ruin. Fun!

"That's weighing on the S&P 500, which has now closed out five consecutive weeks with a loss." Five weeks of red for the S&P—imagine if stocks had a "days since last green candle" counter like some traders track their sobriety.

Mosaic noted the S&P's red streak was now the longest since the 2022 Russia-Ukraine war. We're not saying war is good for markets, but someone should tell the S&P 500 to pick a different hobby.

"The growing risk of lasting damage on the global economy from high energy prices is pressuring the stocks market," it continued. "But perhaps the most consequential spillover impact is on the outlook for inflation, and implications for interest rates on both the short- and long-end of the yield curve." Inflation's back on the menu, folks, and nobody asked for seconds.

Crypto markets joined stocks in a comedown in late March as the odds of the Federal Reserve cutting interest rates in 2026 faded. At the same time, bets of a recession coming this year increased to their highest since last September. Fed pivot? More like Fed ghost.

Fed Chair Jerome Powell was due to speak on Monday at a moderated discussion at Harvard University Principles of Economics Class. Everyone's waiting for Powell to say something—anything—that might move markets. Good luck, Jerome.

"The outlook for rate cuts by the Federal Reserve is in jeopardy, while long-term rates are jumping higher as well due to uncertainty around inflation," Mosaic added. "The 30-year Treasury yield is close to breaking higher from an ominous pattern that could mean sharply higher rates ahead." Your mortgage says thank you for your attention.

March risks becoming sixth red BTC price month

Bitcoin bulls have little to boast about as March comes to a close, with BTC/USD about to seal its sixth consecutive month of losses. Data from CoinGlass shows the result on a knife-edge ahead of the monthly close, with a "green" finish still possible. It's like watching a horror movie where you know the jump scare is coming—you're just not sure when.

If Bitcoin ends March lower than its starting price, it would mark the first six straight "red" months since the 2018 bear market. The last time this happened, people were still pretending Bitcoin was dead. Nostalgic, isn't it?

"Very slow month so far all things considered. Bitcoin pretty much flat on the month just like last year," trader Daan Crypto Trades commented about the CoinGlass data. Flat like a pancake, and about as exciting.

Daan Crypto Trades noted that over Bitcoin's history, April has always been comparatively strong. "Historically speaking, April is bitcoin's 3rd best month in average returns," he added. April showers bring May gains—or at least that's what the hopium pipe is telling us.

Trader XO observed that in February 2019, following Bitcoin's first six-month losing streak, monthly gains totaled 11%. "If April sees an early sweep into the $55–60K range, it could create a compelling setup for mean-reversion longs imo... (much depends on the overall macro landscape)," they told X followers. "That said, the higher timeframe structure remains in control until a clear contextual 'structural' shift is confirmed." Translation: we're all just guessing and hoping at this point.

Bitcoin whales flip defensive

Bitcoin whales have sparked concerns about future downward pressure on BTC price action. After an "aggressive" accumulation period at the start of 2026, whales have started reconsidering their exposure,