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After 4 Straight Monday Declines, What's on the Cards for Bitcoin?
Over the past three months, weekends have underperformed weekdays, due to global uncertainty.
What to know:
- Bitcoin has suffered losses on four consecutive Monday, while the S&P 500 has seen three.
- Over the past three months, Mondays and Sundays have been among the worst-performing days of the week for the largest cryptocurrency.
Bitcoin (BTC) investors are looking to move past four consecutive Monday losses.
Over the past few weekends, the largest cryptocurrency has experienced significant price volatility, driven by macroeconomic uncertainty including geopolitical tensions, tariffs and rising global bond yields. The weekend nervousness appears to have carried over into Mondays.
Story continues
Data from Velo shows the over the past three months Mondays and Thursdays have been the most negative days of the regular workweek. Sunday, however, stands out as the worst-performing day of the week overall, with an average price decline of 1%. Overall, weekends perform slightly worst than weekdays in terms of performance.
Bitcoin has fallen the past four Mondays, Coinglass data shows. It lost 0.31% on Feb. 17, 4.6% on Feb. 24, 8.5% on March 3 and 2.6% on March 10. It has dropped 30% decline from its all-time high in late January, coinciding with a 10% slide in the S&P 500.
The S&P 500 has also experienced three consecutive Mondays of losses. It did not trade on Feb. 17 due to a U.S. holiday.
Bitcoin is trading just 1.4% higher over 24 hours, while S&P 500 futures have turned slightly negative. What happens next is anyone's guess.
James Van Straten
James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin's role within the broader financial system. In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin, MicroStrategy (MSTR), and Semler Scientific (SMLR).
