Six straight months of losses? Five things to know in Bitcoin this week

💡 DMK Insight

Bitcoin’s potential six-month losing streak is a big deal, especially since we haven’t seen this since 2018. The ongoing geopolitical tensions, particularly with Iran, are weighing heavily on market sentiment, creating a risk-off environment that could push Bitcoin further down. Traders should be aware that if Bitcoin closes this month in the red, it might trigger more selling pressure as it breaks psychological support levels. This could lead to a cascade effect, impacting not just Bitcoin but also altcoins and related assets like Ethereum, which often follow Bitcoin’s lead. On the flip side, if Bitcoin manages to hold above key support levels, it might attract bargain hunters looking for a reversal. Watch for the $25,000 level—if it breaks, we could see a deeper correction. But if it holds, it could set the stage for a potential bounce-back. Keep an eye on the daily charts for any signs of bullish divergence as well, which could signal a shift in momentum.