BlockBeats news, on February 17, according to Decrypt, if Bitcoin closes February in decline, it will mark its fifth consecutive monthly drop, setting the longest consecutive losing streak since the 2018 bear market. The February decline has already reached 13.98%.
Since falling from its historical high in October 2025, Bitcoin has accumulated a decline of 52.44%, just 3.82 percentage points away from the 56.26% maximum drawdown seen during the 2018 bear market, in only 123 days.
The total cryptocurrency market capitalization stands at $2.33 trillion, down 1.33% over the past 24 hours. Although the Fear & Greed Index rose from 8 to 12, it remains in the "extreme fear" range. Traders on the prediction market Myriad are currently assigning a 60% probability that Bitcoin will reach $55,000 before $84,000.
Technically, Bitcoin’s price remains below the 200-day Exponential Moving Average (EMA200), with the EMA200 also below the EMA50, indicating dominant bearish momentum. The Relative Strength Index (RSI) is at 34.7, situated in the bearish zone, while the Average Directional Index (ADX) has reached 56.4, signaling a strong downward trend.
Analysis indicates that to reverse the trend, Bitcoin must reclaim $100,000 or form a structural reversal pattern characterized by consistently higher lows. Currently, the market remains in one of the longest-lasting downward phases in history.