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"The worst 50 days on record"…Bitcoin down 23% since the start of the year

Uk Jin

Summary

Bitcoin, the bellwether of digital assets, has fallen about 23% over the first 50 days of the year, marking the worst start to a year on record.
Bitcoin fell 10% in January, dropping from about $88,000 to $81,000, and the weakness has continued into February.
According to CoinGlass data, this is the first time Bitcoin has declined in both January and February; if the current trend continues, it is expected to post the weakest start to a year since 2022.

Bitcoin (BTC), the bellwether of digital assets, is having its worst start to a year on record.

On the 20th (Korea time), digital-asset news outlet CoinDesk, citing Checkonchain data, reported that Bitcoin has fallen about 23% over the first 50 days of the year.

In January, Bitcoin started the year at about $88,000, but slid 10% over the month to $81,000.

Bitcoin has remained weak into February as well. As of 3 p.m. today, Bitcoin was trading at $67,790, up 1.23% from the previous day.

According to CoinGlass data, this is the first time Bitcoin has posted back-to-back declines in January and February. In 2015, 2016 and 2018, Bitcoin logged double-digit losses in January, but rebounded in February each time. If the current trend continues, it is expected to post the weakest start to a year since 2022.

BTC