Bitcoin Hits Rare 8-Day Winning Streak-But 2022 Bear Market Saw One Too

Bitcoin has achieved an eight-day winning streak, a rare event that historically has led to positive returns in 60% of cases with a median 30-day gain of 19%. The rally has coincided with rising geopolitical tensions in the Middle East, during which Bitcoin outperformed traditional assets like gold. Meanwhile, altcoins such as Ethereum and Solana have also seen gains, reflecting a broader market upswing.

The price has surged to $74,000, driven by net inflows into US-listed spot Bitcoin ETFs totaling $1.3 billion for March. However, analysts remain divided on whether the rally signals a continuation of bullish momentum or a temporary rebound. The broader context of the four-year halving cycle suggests a historically bearish phase, similar to 2022.

The current 8-day streak mirrors a period during the 2022 bear market, which was followed by a significant price drop of 30%. Bitcoin is already down 50% from its October 2025 peak, reinforcing concerns about a potential pullback. The performance of MicroStrategy, a major Bitcoin holder, also reflects patterns seen in 2022.

Why the Move Happened

The eight-day rally has occurred amid heightened geopolitical tensions, a scenario in which Bitcoin has historically outperformed traditional safe-haven assets like gold. Gold has dropped by 5% this month, while Bitcoin has gained 12.5%. This divergence challenges the long-held belief that Bitcoin lacks utility as a store of value during macroeconomic stress.

The rise in ETF inflows has further fueled the rally, with US-listed spot Bitcoin ETFs experiencing $763 million in net inflows just in the last week. Analysts suggest that if geopolitical tensions stabilize, the price could move toward $100,000, though some warn of a possible pullback to between $40,000 and $45,000.

What Analysts Are Watching

The current phase of the halving cycle is a key concern for analysts, as historically it aligns with bearish periods. Bitcoin is already in a bear market, down 50% from its October peak. Past eight-day streaks have often been followed by sharp corrections, as seen in March 2022. This historical pattern raises caution about the sustainability of the current rally.

The US CLARITY Act's regulatory prospects also remain uncertain, with Senate delays pushing the bill's passage beyond 2026. The bill aims to bring clarity to the crypto sector, but unresolved debates over stablecoin regulations and DeFi have stalled progress. This regulatory uncertainty impacts investor sentiment and could affect the broader market outlook.

In a separate development, VEON Ltd. reported strong Q4 and full-year 2025 results, with digital revenue up 84% year-over-year. The company's stock surged 14.20% following the earnings report, driven by emerging-market expansion and digital transformation initiatives. This performance highlights the growing importance of digital services in emerging markets.