Bitcoin about to witness sixth death cross in 5 yrs

Quick Take

As Bitcoin’s price hovers around $26,000, technical indicators suggest a death cross is imminent, a situation defined by the 50-day moving average (DMA) falling below the 200 DMA. Currently, the 50dma is around $27,625, strikingly close to the 200dma at $27,618.

This impending event is a signal of weakening price momentum, often associated with potential bearish market conditions. Over the past five years, instances of a death cross have consistently correlated with negative price actions for Bitcoin.