With Bitcoin’s February 2026 close, the asset completed its fifth consecutive month of depreciation. According to CryptoRank data, this period stood out as negative closing for five consecutive months for the first time in Bitcoin’s monthly return history. The last link of the said decline series was recorded in February 2026, with a decline of 14.8 percent.
Negative Closes in the Last Five Months
The five-month losing streak began in October 2025, with a decrease of 3.93 percent. This was followed by declines of 17.4 percent in November 2025, 3.12 percent in December 2025, 10.1 percent in January 2026, and finally 14.8 percent in February 2026. The declines in November and February stood out as two of the steepest monthly losses in the relevant period. During this time, the Bitcoin price has lost significant value.
Historical Data and March Statistics
Looking at CryptoRank’s monthly return chart from 2011 to 2026, a continuous red close for five months has not been encountered before. Although there have been periods in Bitcoin’s history, such as 2018 and 2022, when several red months occurred in a row, a process that was completed without any green closures for five consecutive months has never been seen before. This is technically a first in history.
For March, the same database shows an average return of 10.2 percent and a median loss of 1.44 percent. Although the average value increased due to extraordinary jumps such as 2013 and 2011, these years do not reflect typical March months. Therefore, for most years, the median ratio provides a more realistic picture.
When the table focuses on March, it can be seen that both positive and negative results are distributed. While some years such as 2013, 2021, 2023 and 2024 gave positive results, the month of March closed negatively in years such as 2018, 2015 and 2016. In general, there is a balanced distribution between green and red results.
Beginning of Loss Series and Cycle Analysis
The 2025 line highlighted in yellow in the CryptoRank data indicates consecutive red closures in October, November and December. Thus, the source of the current series of declines dates back to the last quarter of 2025. Bitcoin started to retreat from the peak level of $ 126,000, which it reached in September 2025. The fact that the five-month losing streak started at the highest level indicates a cyclical correction process.
The closing point is considered important in evaluating such a series. Five months of minuses starting from the peak point out that the market has entered a correction from a high point. A process of the same length starting from the middle level could indicate a different structural situation. Therefore, the initial conditions of the series determine the direction of the inferences about the cycle.
Decision Point and Factors in March
As we enter March, several important topics come to the fore. The US Federal Reserve’s interest rate decision will be announced on March 18. In the regulatory area, the Clarity Act legislative process is also expected to come to an end. On the geopolitical side, developments between the USA and Iran remain unclear. More than $620 million worth of tokens are planned to be unlocked this month. Moreover, for the first time in history, we are entering March after a five-month red closing series.
Looking at historical data, there are positive average rates for March. However, in the current environment, the five-month losing streak, 46 percent of the total supply being at a loss level and the fear index showing an extremely low value reveal a very different picture from the previous rising periods. Past March averages may be inadequate to directly reflect current conditions.
