Bitcoin Faces Record Sixth Monthly Decline near $67,200 and $60K Test
Bitcoin hovers near $67,200 after five straight monthly declines, threatening a record sixth consecutive loss. On-chain bearish flows signal a potential retest of $60,000 lows despite exchange-traded funds holding over 6% of supply and Strategy’s 3.6% stake boosting demand.
1. Bitcoin's Monthly Decline Threatens Record
Bitcoin has declined for five consecutive months, trading around $67,200 and positioning itself for a historic sixth straight monthly drop for the first time in its 17-year history.
2. ETF and Institutional Inflows Provide Support
Exchange-traded funds now hold over 6% of total bitcoin supply, and Strategy has accumulated at least 3.6%, injecting fresh demand into an otherwise cooling market.
3. On-Chain Metrics Point to Further Weakness
Blockchain data reveals persistent outflows and bearish flows, increasing the likelihood that bitcoin will revisit the $60,000 support zone before any sustained recovery.
4. Market Sentiment Remains Cautious
Many investors are preserving capital and maintaining dry powder while monitoring price action for a clear directional shift, even as some indicators hint at a potential bottom.