Bitcoin Braces for Potential Death Cross: Analysts Sound Alarm on Bearish Trend

Bitcoin’s recent dip below the 200-week Exponential Moving Average (EMA) has stirred market concerns, triggering fears of an impending 'death cross.' Should the cryptocurrency's 3-day chart witness the dreaded 50/200 Simple Moving Averages (SMA) crossover, history suggests further declines may ensue. Analysts are drawing parallels between the current price action and past patterns observed in 2018 and 2022, where similar events catalyzed extended bearish momentum. Bitcoin's over 52% drop from its peak last October precedes the anticipated technical event, with comparisons to historical declines of 45%-52% post-death cross occurrences. Market sentiment reflects caution as BTC struggles to establish a robust support zone, and the crypto community awaits to see if the current cycle's downturn concludes with another significant correction.