Bitcoin is currently trading around $87,500, but market watchers warn that if the present trend continues, prices could drift toward the $86,000 level, extending a four-month losing streak from October to January. The pattern mirrors conditions last seen during the 2018 crypto winter, when prolonged monthly declines reshaped market sentiment.
The recent weakness has unfolded steadily over multiple months. Bitcoin slipped 3.69% in October, plunged 17.67% in November—its steepest monthly fall since the 2022 FTX collapse—and declined another 2.97% in December. January has so far remained under pressure, keeping Bitcoin below key psychological levels as momentum fades.
On-chain data suggests the sell-off is not panic-driven but rather a gradual erosion of confidence. Analysts note that similar four-month losing sequences in past cycles have sometimes extended further, raising concerns that $86,000 could come into focus if buying interest remains muted near current levels.
Adding to the contrast, silver has surged roughly 270% over the past 13 months, while Bitcoin is still down about 11% over the same period. Silver’s market capitalization is now estimated to be nearly 3.5 times larger than Bitcoin’s, highlighting a shift in relative asset performance as investors lean toward traditional safe-haven exposure.
Despite the bearish sentiment, market observers emphasize that monthly closes carry more weight than short-term price swings. Whether Bitcoin stabilizes near $87,500 or slips toward $86,000 may determine if the October-to-January downtrend ends—or extends further into the year.
