I just reviewed the charts and it's pretty depressing: Bitcoin has been in the red for five consecutive months, something that hasn't happened since 2018. 2026 started with hope, but when it rejected the $98,000 level in January, everything fell apart. Then in February, it was even worse, dropping down to touch $60,000, its lowest level in months. Although it rebounded a bit, it closed February around $65,000-$66,000, but still ended with double-digit losses.

Everything changed after October of last year. At that time, Bitcoin was reaching all-time highs above $126,000 and everyone was talking about new records. But on October 10th, something brutal happened: over $19 billion in liquidations in a single day. Since then, the market has never been the same. The price has been steadily declining, and it's as if something in the market structure broke.

Ethereum is doing even worse. It has been in the red for six consecutive months and has only been in the green three of the last fifteen months. January and February were violent: declines of 17.7% and 19.6%, respectively. Now ETH is struggling to stay above $2,000. It’s the worst consecutive period since 2018. Honestly, these numbers are quite strong, especially considering that it’s April and we still see slow recoveries.