Bitcoin Looks Set for Longest Monthly Losing Streak Since 2018

Bitcoin is heading for its worst streak of monthly losses in about seven years, as a deepening risk-off mood and fierce competition from traditional haven assets sap demand for the token.

The original cryptocurrency is down nearly 6% so far in January, putting it on course for a fourth straight month of losses — the longest streak of its kind since 2018, when the unraveling of a boom in so-called Initial Coin Offerings sent the market into a downward spiral.