U.Today - Bitcoin finds itself of a concerning technical indicator: the “Death Cross.” This phenomenon occurs when Bitcoin’s 50-day Simple Moving Average (SMA) crosses below its 200-day SMA.
Forbes analyst Steven Ehrlich recently highlighted this trend, which often signals impending bearish momentum.
For the uninitiated, moving averages help smooth out price data to create a single flowing line, making it easier to identify the direction of the trend.
Bitcoin’s modest volatility
Investor sentiment has been tense, with Bitcoin’s price showing modest volatility within a 24-hour range of $25,641.06 to $25,925.03.According to , Bitcoin’s market cap is a formidable $503.8 billion.
However, the looming could disrupt this relative stability.
It is not a guarantee of an upcoming bear market, but it does raise eyebrows among market participants.