Follow Us @
Death Cross returns to haunt Bitcoin traders
-Trending Marketing news, content marketing, latest Ways to rank your website, marketing discoveries, Local SEO, seo and social media marketing services. enjoy your stay on our website.
THE Bitcoin (BTC) faces one of the technical indicators most feared by traders: the “death cross”. This formation occurs when the 50 period moving average crosses below the 200 period moving average on the graph.
The pattern causes panic among traders as it signals a short-term downtrend. The signal appeared amid a widespread sell-off in the crypto market, which saw more than US$1.42 billion in losses in the last 24 hours, according to data from CoinGlass.
In recent days, Bitcoin price fell more than 3%retreating from a record of $108,268reached on December 17, to $92,115 on Friday before recovering to $97,100.
The drop reflects investors’ uncertainty regarding United States monetary policy. Recent data showed that the personal consumption expenditures (PCE) price index just went up 0.1% in Novemberwith an annual fee of 2.4%lower than expected.
Bitcoin up or down?
Despite this, the chairman of the Federal Reserve, Jerome Powelladopted a conservative tone, reducing the forecast of interest rate cuts for 2025.
Although the cross of death is historically associated with downtrendsdoes not always guarantee new falls. Now, traders are keeping an eye on two critical points. On the downside, support $90,000 is seen as a crucial psychological level.
According to analyst Tomiwabold Olajide, if the price breaks below this level, sales could intensify. On the other hand, if Bitcoin manages to recover, the $99,974 level is the next target.
Olajide also highlights that in the short term, the market remains divided. Volatility increases as investors evaluate Federal Reserve decisions and crypto market behavior.
Death Cross returns to haunt Bitcoin traders
Follow TODAYSGIST on Google News and receive alerts for the main trending SEO news, Ai news, latest Ways to rank your website, marketing discoveries, Local SEO and lots more!
Death Cross returns to haunt Bitcoin traders
SHARE POST AND EARN REWARDS:
Did you like this post?!!! Join our Audience reward campaign and make money reading articles, shares, likes and comment >> Join reward Program
FIRST TIME REACTIONS:
Death Cross returns to haunt Bitcoin traders
Be the first to leave us a comment, down the comment section. click allow to follow this topic and get firsthand daily updates.
JOIN US ON OUR SOCIAL MEDIA: << FACEBOOK >> | << WHATSAPP >> | << TELEGRAM >> | << TWITTER >
Death Cross returns to haunt Bitcoin traders
