Bitcoin risks fourth straight monthly loss, a streak not seen since 2018

Bitcoin is currently on track for a fourth consecutive monthly decline, a rare occurrence not witnessed since the 2018-2019 period when it saw six straight negative months. Despite trading slightly down for January around $87,000, the asset has corrected roughly 36% from its October all-time high, a decline streak more severe than the one seen during the 2022 bear market in terms of consecutive negative months. However, derivatives markets show some tentative optimism; Bitcoin faces a significant options expiry on January 30th, with open interest totaling about $8.5 billion on Deribit. The high notional value of the $100,000 call option suggests many traders are positioned for a rebound to the six-figure level, while the max pain price for the expiry is near $90,000.

(Source：CoinDesk)