Bitcoin clings to monthly gains, historic losing streak still in play

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Bitcoin clings to monthly gains, historic losing streak still in play Bitcoin shows early signs of outperformance against gold, with the BTC gold ratio rebounding toward 16 ounces after a steep cycle drawdown. By James Van Straten | Edited by Oliver Knight Mar 23, 2026, 10:46 a.m. Make us preferred on Google Bitcoin barely clings to monthly gains. (Tyler Stableford/Getty images) What to know : A red monthly close would mark six consecutive losses, matching the August 2018 to January 2019 record. Bitcoin continues to hold above its 200 week moving average near $59,000, while the BTC gold ratio begins to recover from cycle lows With just over a week left in the month of March, bitcoin is narrowly on track to avoid a historic losing streak. The asset is up around 2% on the month, holding above $68,000. However, a late pullback would see bitcoin close six consecutive months in the red, matching the longest negative streak on record, last seen between August 2018 and January 2019. From a technical standpoint, the 200-week moving average, (200WMA), remains a key level to watch. This metric, which tracks bitcoin’s long-term trend by averaging its closing price over the past 200 weeks, has historically acted as strong support during bear markets. In the current cycle, the 200WMA sits near $59,000. bitcoin dropped to as low as $60,000 in early February and has since consolidated above this level for nearly two months, suggesting continued strength at this key support. Notably, the 2022 bear market remains the only cycle where bitcoin spent a prolonged stretch below the 200WMA, from June through December. BTC 200WMA (Glassnode) Beyond USD price action, bitcoin is also beginning to show relative strength against gold. It is on track to post its first positive monthly candle versus gold in eight months, with the bitcoin to gold ratio currently around 16 ounces. Gold, meanwhile, is trading near $4,200 after recently dropping towards $4,000, 5% down on the day. Gold is now down over 25% from its January all time high, wiping out $7.5 trillion in market cap value. Historically, each cycle has seen smaller drawdowns in the bitcoin to gold ratio from its peak. In this cycle, bitcoin declined roughly 71% against gold from its all-time high in December 2024. These peak to trough cycles have typically lasted around 400 days, suggesting the current downturn may be over denominated in this ratio. If bitcoin can maintain support above the 200WMA while regaining strength against gold, it would reinforce the view that the broader uptrend remains intact. BTCUSD/XAUUSD (TradingView) Bitcoin News More For You Bitcoin's momentum indicator is flashing a signal that should worry bulls By Omkar Godbole | Edited by Sheldon Reback 37 minutes ago A key momentum indicator that has been accurate at calling price selloffs since October just triggered. What to know : A key technical indicator for bitcoin, the MACD histogram, just turned negative, signaling a renewed shift toward bearish momentum. Since October, every bearish MACD cross has preceded steep bitcoin selloffs, while bullish crosses have produced only short-lived, weak rebounds. With the MACD flashing red again despite bitcoin's recent resilience, traders should stay cautious because past patterns suggest another potential price drop. Read full story Latest Crypto News Bitcoin's momentum indicator is flashing a signal that should worry bulls 37 minutes ago Fed's Miran speaks, Bitgo earnings, Casper hard fork: Crypto Week Ahead 1 hour ago Prosecutors flag mail discrepancies in Sam Bankman-Fried’s retrial motion letter from prison 1 hour ago Resolv stablecoin crashes 70% as attacker extracts $25 million in ETH 4 hours ago Oil, silver trading is way more popular than XRP, solana on Hyperliquid 4 hours ago Stocks start catching up with bitcoin’s earlier price crash to $60,000 as bond yields rise 5 hours ago Top Stories Bitcoin holds $68,300 as gold crashes for a ninth day and Asian stocks drop 5 hours ago South Korea crypto liquidity tumbles as stablecoin balances plunge 55% and stock buying rises 6 hours ago Bitcoin miners are losing $19,000 on every BTC produced as difficulty drops 7.8% Mar 22, 2026 Ethereum faces make-or-break moment in high-stakes balancing act as scaling, quantum and AI pressures mount 17 hours ago Gold falters as macro pressures build, bitcoin holds liquidity trend 19 hours ago The genius and the danger of STRC: How Strategy’s new funding model bends so it doesn't break 18 hours ago