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Bitcoin Updates Today: Is Crypto's Death Cross Indicating a Recovery or Warning of a Downturn?

Bitcoin Updates Today: Is Crypto's Death Cross Indicating a Recovery or Warning of a Downturn?

Bitget-RWA2025/11/19 12:46
By:Bitget-RWA

- Cryptocurrency markets face selloff as Bitcoin , Ethereum , and XRP decline amid a "death cross" signal and waning institutional demand. - Technical analysis highlights Bitcoin's 50-day moving average nearing the 200-day line, historically linked to prolonged downturns or potential rebounds. - Blockchain data reveals $953M BTC moved from Mt. Gox wallets, triggering $1B in forced liquidations despite analysts labeling the transfers administrative. - Historical death crosses have preceded market bottoms, b

Bitcoin,

, and are under increasing strain as the crypto market contends with a sharp downturn, triggered by a bearish technical pattern called the "death cross" and declining interest from institutional investors. The 50-day moving average for is on the verge of crossing below its 200-day moving average, a signal that has often preceded extended declines, but historical trends also indicate it could mark the start of a recovery . The cryptocurrency is currently trading close to $91,000, representing a drop of more than 25% from its October high of $126,000, with a long-term peak or just a short-term pullback.

The death cross has appeared alongside a "megaphone" chart pattern, a rare setup where wide price swings create an expanding top. This formation, seen in Bitcoin’s recent price action, points to a possible move down to $75,000, which matches support levels from April 2025

. Adding to the uncertainty, U.S. spot ETF flows have become volatile, with recent withdrawals putting more pressure on market liquidity. Blockchain records also show over 10,600 BTC (worth $953 million) were transferred from Mt. Gox wallets, though experts clarified these were administrative transfers, not sales . Nonetheless, the news alone led to $1 billion in forced liquidations across exchanges .

Bitcoin Updates Today: Is Crypto's Death Cross Indicating a Recovery or Warning of a Downturn? image 0
Looking at previous cycles, the signals are mixed. Since 2023, each death cross has lined up with a significant market bottom, such as the $25,000 low in September 2023 and the $74,400 support in April 2025 . But the current situation is different: Bitcoin’s usual strength in October and November has faded, and concerns about U.S. interest rates have reduced investors’ willingness to take risks . Analysts like Benjamin Cowen point out that if the death cross signals a cycle peak, Bitcoin could see a "lower high" before retesting the 200-day moving average, while a quick rally above $103,000 would restore a bullish outlook .

On-chain data highlights weak engagement. Glassnode reports that circulating supply is rising as prices fall, a sign of mounting selling pressure

. The number of active addresses has also dropped sharply, echoing the price slide. Meanwhile, the Relative Strength Index (RSI) has fallen into oversold territory, suggesting the chance of a short-term bounce, though the overall trend remains negative as Bitcoin stays below major resistance levels like $100,000 .

Market experts remain divided. Tom Lee from BitMine believes Ethereum could enter a "supercycle" similar to Bitcoin’s, but skeptics question whether it offers unique advantages

. Long-term holders, on the other hand, stress that broader adoption and institutional involvement are key drivers for growth over several years . For now, attention is on whether Bitcoin can reclaim the $90,000–$93,000 range and stabilize ETF flows—a test that will help determine if this death cross presents a buying opportunity or signals further declines ahead.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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