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Bitcoin Nears Record Six Consecutive Red Monthly Closes as Price Hold at $66K

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Brian Armstrong's Bold Prediction: AI Agents Will Soon Dominate Global Financial

TLDR:

  • Bitcoin has closed red for five straight months, from October 2024 through February 2025.
  • A sixth red monthly close would tie the longest losing streak ever recorded in Bitcoin’s history. 
  • Analyst van de Poppe identifies $60K as the ideal long entry if Bitcoin continues sweeping lower
  • A clear break above $71K is the key level analysts say could fully reverse Bitcoin’s bearish trend. 

Bitcoin is facing one of its most closely watched monthly closes in recent memory. The leading cryptocurrency has recorded red monthly closes for five straight months, from October through February.

March is on course to extend that run to six months. Currently trading at $66,000, the asset remains down on the month.

A sixth red monthly close would tie the longest streak in Bitcoin’s history. That record was last set between August 2018 and January 2019.

Bitcoin’s Longest Losing Streak on Record Within Reach

The asset closed red in October, November, December, January, and February, marking five straight losing months. Trader Jeremy, known as @Jeremybtc on X, noted the historic nature of this run.

He pointed out that six consecutive red closes would match a record set between August 2018 and January 2019. March closes on Tuesday, with the price still sitting below its monthly open.

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That prior streak bottomed with Bitcoin near $3,400 at its lowest point. The asset then rallied roughly 300% over the following five months.

The 2018–2019 cycle remains one of the most referenced periods in the cryptocurrency’s short trading history. Many traders continue using it as a framework for reading current price behavior.

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Bitcoin’s current level of $66,000 sits well above those earlier lows. The present correction, therefore, operates from a much higher base than the 2018 example.

Even so, the pattern of consecutive losing months draws clear comparisons between both periods. Traders are watching closely whether March confirms the sixth consecutive red monthly close.

The monthly close carries weight for both short-term traders and long-term holders. Any price movement before Tuesday could still shift the overall outcome.

For now, the current trajectory keeps a record-tying sixth red month firmly in view. Market sentiment has grown cautious as that deadline approaches.

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Analysts Outline Key Price Levels to Watch

Crypto analyst Michaël van de Poppe, known as @CryptoMichNL on X, shared his near-term outlook. He described the price action as following the same path seen during a prior consolidation phase.

He added that the asset would likely hold its range briefly before sweeping lower. Van de Poppe identified $60,000 as the ideal entry point for long positions if prices fall further.

The analyst also outlined what could shift his cautious view toward the upside. He stated that a clear break above $71,000 would change the overall perspective on Bitcoin.

Without that breakout level being reached, further downside remains his base case. His stance reflects a measured approach to reading the present market structure.

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Van de Poppe further disclosed his personal trading plan heading into April. He said he would dollar-cost average into his altcoin portfolio on April 1st.

Lower prices, in his words, would actually work in favor of that strategy. This method is widely used among experienced traders who treat market dips as accumulation opportunities.

Taken together, both viewpoints place the market at a clear inflection point this week. Lower prices could draw fresh buyers in, while a push higher may restart an upward trend.

Traders remain divided on which outcome emerges next. The Tuesday monthly close may provide the most telling directional signal yet.

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Crypto World

Ansem Says Ethereum Is in a Worse Spot Than 2023 as Thesis Weakens

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Ethereum Price Prediction

Crypto analyst Ansem argues that Ethereum (ETH) is in a “worse spot” in 2026 than it was in 2023, pointing to a thesis he says has been eroding for years.

His bearish take drew rebuttals from some members of the community. Meanwhile, on-chain activity and technical indicators elsewhere on the network flash bullish signals.

Ansem Lists Cracks in the ETH Thesis

Ansem argues that Solana (SOL) has dominated retail activity this cycle. Hyperliquid has taken the lead in perpetual futures trading, while rollups have failed to gain traction.

He also noted that Vitalik Buterin “publicly abandoned” the general-use rollup thesis. The ongoing Aave (AAVE) situation around the KelpDAO rsETH exploit, Ansem said, is a mark on  Ethereum’s core value proposition of “safety + security of defi & insto interest.

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“ETH thesis has been weakening consistently for years,” the analyst wrote. ETH in 2026 is in a worse spot than it was in 2023, amplified by AI doing extremely well & tech stocks being much more favorable investments with real revenues / emerging narratives / increasing momentum, ETH is a $300B asset with a ton of overhang from Tom Lee topblasting + complacent ETH holders sitting idle in defi protocols.”

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Technically, the analyst noted that ETH remains in a sustained downtrend after failing to break multi-year resistance. He projected that the second-largest cryptocurrency could slip to 2025 lows near $1,300 and to the bear-market lows from 2022.

“Tight invalidation 2377 assuming problems worsen if you want to play it loose assuming other risk assets continues doing well & drags it up probably somewhere around 2700/2800 invalidation fundamentals wise would want to see breakout activity from some new vertical,” the post read.

Ethereum Price Prediction
Ethereum Price Prediction. Source: X/Ansem

Community Members Push Back

The take triggered notable pushback. Ryan Berckmans accused Ansem of not understanding fundamentals. Leo Lanza went further, sharply dismissing the analyst’s bearish case on X.

Another user pointed to a 56% drop in the SOL/ETH pair this cycle.

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“Soleth is down 56% after being up 12x+ *this cycle* because one guy decided to buy 5% of the eth supply after it had underperformed all cycle. idk why you guys act like i dont also bearpost solana i havent posted anything bullish about sol in over a year,” Ansem replied.

Not everyone shares the bearish view on Ethereum. BeInCrypto recently highlighted that network activity remains strong, while technical indicators like the Rainbow Chart and MACD are also flashing bullish signals.

With macro and geopolitical uncertainty still in play, the question is whether ETH slides further this year or stages a renewed rally.

Subscribe to our YouTube channel to watch leaders and journalists provide expert insights

The post Ansem Says Ethereum Is in a Worse Spot Than 2023 as Thesis Weakens appeared first on BeInCrypto.

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Aave’s TVL Falls $8B After $293M Kelp DAO Hack

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Aave’s TVL Falls $8B After $293M Kelp DAO Hack

Total value locked on decentralized lending protocol Aave dropped by nearly $8 billion over the weekend after hackers behind the $293 million Kelp DAO exploit borrowed funds on Aave, leaving roughly $195 million in “bad debt” on the protocol and triggering withdrawals.

Data from DeFiLlama shows that Aave’s TVL fell from about $26.4 billion to $18.6 billion by Sunday, losing the top spot as the largest DeFi protocol. 

Aave v3’s lending pools for USDt (USDT) and USDC (USDC) are now at 100% utilization, meaning that more than $5.1 billion worth of stablecoins cannot be withdrawn until new liquidity arrives or borrows are repaid. 

$2,540 is available to be withdrawn from the $2.87 billion USDT pool on Aave v3 at the time of writing. Source: Aave

Aave’s TVL fall shows how rapidly risk from a single security incident can spread throughout the broader, interconnected DeFi lending market, potentially leading to a severe liquidity crisis.

The incident began on Saturday when hackers stole 116,500 Kelp DAO Restaked ETH (rsETH) tokens worth about $293 million from Kelp DAO’s LayerZero-powered bridge and used them as collateral on Aave v3 to borrow wrapped Ether (wETH).

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Crypto analytics platform Lookonchain said the move created about $195 million in “bad debt” on Aave, which contributed to the Aave (AAVE) token tanking nearly 20% from $112 on Saturday at 6:00 pm UTC to $89.5 about 25 hours later. 

Lookonchain noted that some of the largest crypto whales to withdraw funds from Aave were the MEXC crypto exchange and Abraxas Capital at $431 million and $392 million, respectively.

Source: Grvt

Several crypto networks and protocols tied to rsETH or the LayerZero bridge have paused use of the bridge until the problem is resolved, including DeFi platform Curve Finance, stablecoin issuer Ethena and BitGo’s Wrapped Bitcoin (WBTC).

Aave has frozen several rsETH, wETH markets

Shortly after the Kelp DAO exploit, Aave said it froze the rsETH markets on both Aave v3 and v4 to prevent any suspicious borrowing and later stated that rsETH on Ethereum mainnet remains fully backed by underlying assets.

WETH reserves also remain frozen on Ethereum, Arbitrum, Base, Mantle and Linea, Aave said.

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This incident marks the first significant stress test of Aave’s “Umbrella” security model, which was introduced in June 2025 to provide automated protection against protocol bad debt while enabling users to earn rewards.

Related: Aave DAO backs V4 mainnet plan in near-unanimous vote

Earlier this month, the Bank of Canada found that Aave avoided bad debt in its v3 market by using overcollateralization, automated liquidations and other strategies that shifted risk to borrowers.

In comments to Cointelegraph, Aave defended its liquidation-based model, framing it as a core safety mechanism that protects lenders while limiting downside for borrowers.

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It comes as Aave parted ways with its longest-standing DeFi risk service provider, Chaos Labs, on April 6, following disagreements over the direction of Aave v4 and budget constraints.

Magazine: Are DeFi devs liable for the illegal activity of others on their platforms?