Bitcoin is expected to end its five-month consecutive decline.

MaticHoleFiller · 2026-04-02T05:57:27+00:00

Bitcoin is hovering around $68,000, potentially ending a five-month losing streak. Analysts say that although there are signs of a rebound, the flow of funds still appears bearish. Some believe Bitcoin may have bottomed out, with a target price of $150,000.

MaticHoleFiller

2026-04-02 05:57:27

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On Tuesday, Bitcoin (BTC-USD) hovered around $68,000, with a chance to end a streak of five straight months of declines with a modest finish.

Compass Point analyst Ed Engel wrote, “In Bitcoin’s 17-year history, there has never been a case of six consecutive months of declines.”

The analyst noted that after five consecutive months of declines from October to the following February, Bitcoin’s current trading price has moved by less than 1% compared with the February close of $67,000.

Since the Middle East conflict broke out on February 28, the S&P 500 index and gold prices have fallen together, and Bitcoin has shown greater downside resilience than stocks.

Engel wrote that although Bitcoin appears to have already been due for a rebound, “blockchain data still shows bearish flows of funds, which makes us even more confident that Bitcoin will once again test the $60,000 low.”

He added, “The resilience shown in March looks like the typical technical rebound amid the backdrop of a crypto winter.”

Fundstrat’s head of digital assets, Sean Farrell, is also not optimistic about Bitcoin’s near-term downside resilience.

In a client video late Monday, Farrell said, “I remain cautious about this. I believe it’s still a good time to preserve capital, keep ammunition, and stay flexible in how we operate—waiting for the market to show a clearer shift in direction.”

Meanwhile, a recent note from Bernstein analysts suggested that Bitcoin may have finally bottomed out.

In a report last week, Bernstein analyst Goutam Chughani wrote, “Bitcoin has shown signs of bottoming out.” The firm reiterated its target price for Bitcoin by the end of 2026 of $150,000.

The analyst said that in recent weeks, investors have returned to buy Bitcoin ETFs; currently, the ETFs’ holdings have exceeded 6% of Bitcoin’s total supply. Digital asset giant MicroStrategy (MSTR) is also continuing to make large purchases, and its current holdings account for at least 3.6% of Bitcoin’s total supply.

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