The 2-week-long Bitcoin (BTC) profitable streak has lastly come to an finish after the cryptocurrency fashioned its first pink candle on Jan. 18.

The day prior, BTC was shaping as much as match and even beat its November 2013 report of 15 consecutive days of optimistic worth motion, the longest of such streaks in its historical past.

Whereas the report wasn’t overwhelmed, Bitcoin did submit the longest win streak for the reason that 2013 report in a “ridiculous” run up in line with some commentators on Twitter.

#Bitcoin – One pink each day candle does not erase 2 weeks of bullish inexperienced candles. We wanted one already, that up solely run was ridiculous. It is as dangerous as celebrating a bounce after lacking an entire transfer down (I’ve executed it). I anticipate you give the bears the identical therapy. pic.twitter.com/LJIbBKbE8c

— IncomeSharks (@IncomeSharks) January 18, 2023

Cointelegraph information reveals Bitcoin neared a 2.4% loss over the day and was again beneath $21,000, a price it hadn’t reached for the reason that chapter of crypto trade FTX in early November final 12 months.

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The first trigger for the unfavorable worth motion gave the impression to be an ominous announcement by the USA Division of Justice (DOJ) earlier on Jan. 18 saying it could “announce a world cryptocurrency enforcement motion.”

Many speculated it might be towards a serious trade or crypto firm, nevertheless it turned out the motion was towards a little-known trade known as Bitzlato primarily based in Hong Kong with ties to Russia. The trade’s founder, Anatoly Legkodymov, was additionally arrested.