Analysis: Bitcoin may face its first four-month consecutive decline since 2018.

Bitcoin is poised for its fourth consecutive month of decline, a scenario unseen since the six-month losing streak of 2018-2019. Despite having one full trading week remaining in January, Bitcoin has already seen a slight dip, hovering around $87,000. Bitcoin previously recorded monthly declines in October, November, and December, representing significant pullbacks from its all-time high in October, with a drop of approximately 36% from peak to trough during this period. Even during the 2022 bear market, when Bitcoin's price fell from $69,000 to $15,000, it never experienced more than three consecutive months of monthly declines. However, despite the weak spot price, the derivatives market is showing some optimism. Deribit data shows that the notional value of call options with a strike price of $100,000 is the highest, approaching $900 million, indicating that a significant number of traders are betting on a price rebound to six-figure levels. (CoinDesk)