Quick Take
Bitcoin(BTC) established its highest monthly returns since October 2021 and its second-best January in history. BTC monthly returns for January currently stand at 38.07% as of press time — a rise only exceeded in January 2013 at a monthly returns rate of 44.05%. As BTC price sentiment shifts to bullish, speculation as to whether we are amid the longest BTC bear market are starting to fade. BTC closed four consecutive weekly green candles for the first time since August 2021.
Bitcoin monthly returns – (Source: Coinglass)
Bitcoin monthly returns: (Source: Glassnode)
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