Bitcoin looks for direction after four straight weekly losses

Bitcoin fluctuated after posting its fourth consecutive weekly loss, with the cryptocurrency struggling to find clear direction as a weekend rally fizzled.

The largest digital token ended Sunday down 2.6% for the week, erasing a small bounce that briefly took it close to $71 000 on Saturday. Bitcoin edged 0.2% higher to $68 955 as of 9:45 a.m. in London on Monday. Ether, the second-largest cryptocurrency, was up slightly at $1 988.

Bitcoin has dropped more than 40% from its all-time peak near $127 000 in October, struggling to latch onto rallies in gold or equities. The broader crypto market has lost almost $2 trillion in value over the same period, according to data from CoinGecko.

The token’s recent weakness has led some analysts to question whether prices have found a floor.

“The big question on everyone’s mind is whether crypto has bottomed out or if there’s still more downside on the horizon,” Greg Magadini, director of derivatives at Amberdata, wrote in a note. Sentiment around digital-asset treasury holdings and money flowing into or out of spot Bitcoin exchange-traded funds will be key indicators to watch, he said.

October selloff

Bitcoin’s slide was kickstarted by a major selloff on Oct. 10, when billions of dollars in crypto bets were liquidated. Since then, investors have withdrawn more than $8.4 billion from US-listed spot Bitcoin ETFs, according to data compiled by Bloomberg.

Adding to the cautious mood, Standard Chartered — whose analysts are typically bullish on the token’s prospects — last week cut its forecast for Bitcoin’s price at the end of 2026 by a third. The bank anticipated Bitcoin could slide further to $50 000, before recovering to end the year around $100 000. That’s down from a prior projection of $150 000.

Still, some analysts say the technical picture leaves room for a rebound.

“As long as Bitcoin holds above the 200-week moving average at $58 239 — a level it successfully defended two weeks ago — there remains scope for a recovery toward initial resistance at $73 000 to $75 000,” said Tony Sycamore, an analyst at IG Australia.

© 2026 Bloomberg

Follow Moneyweb’s in-depth finance and business news on WhatsApp here.