Bitcoin Faces Longest Losing Streak Since 2022
Bitcoin heads for fifth consecutive weekly decline amid Middle East tensions and dollar strength. Geopolitical risks test crypto's safe-haven narrative as institutional sentiment diverges.
Below $67,000 and falling. Bitcoin is on track for its fifth consecutive weekly loss—a streak not seen since the brutal nine-week slide from March to May 2022. The question isn't just how far it'll fall, but what's really driving this relentless selloff.
When Geopolitics Trumps Digital Gold
The U.S. has assembled its largest air power concentration in the Middle East since the 2003 Iraq invasion, according to the Wall Street Journal. While President Trump hasn't made a final decision on Iran strikes, Polymarket bettors are pricing in a 27% chance of action by month-end.
This uncertainty has pushed the dollar index to 97.7—its highest since February 6th. WTI crude jumped from Wednesday's $62 low to $65. Classic flight-to-safety behavior, except Bitcoin isn't benefiting from the traditional "digital gold" narrative.
The Numbers Tell a Brutal Story
Bitcoin has shed more than 50% from October's all-time high near $126,500, hitting lows around $60,000. Monthly performance? Five straight declines since October—the second-longest losing streak on record, beaten only by the six-month slide from 2018 to 2019.
Against gold, Bitcoin has underperformed for seven consecutive months. So much for the "digital gold" thesis when actual gold is outshining crypto during uncertain times.
Wall Street's Mixed Signals
The institutional narrative is getting complicated. Goldman Sachs' David Solomon admits he owns "very little" Bitcoin but is "watching it closely"—hardly a ringing endorsement from one of Wall Street's most influential voices.
Meanwhile, real estate billionaire Barry Sternlicht says he's "ready to tokenize assets" but claims U.S. regulation is blocking progress. Same asset class, completely different perspectives on timing and opportunity.
The Coinbase Contradiction
Interestingly, while Bitcoin struggles, Coinbase is expanding its crypto-backed lending service to include XRP, dogecoin, and Cardano's ADA. Users can now borrow up to $100,000 in USDC without selling their holdings. It's a bet on crypto's long-term utility even as prices crater.
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