Bitcoin Death Cross Haunting Investors, Will BTC Make or Break?

It has been a pretty rough start this year for Bitcoin 2022 as the BTC price corrected more than 10% in the first 12 days of January. On the technical chart, Bitcoin is approaching the death cross pattern that suggests that we might be heading for further pain ahead.

The death cross appears whenever the asset’s price over the last 50 days drops below that of its 200-day moving average. This signals that the momentum is headed downwards. Mati Greenspan, founder of Quantum Economics noted that Bitcoin is approaching a similar death cross pattern later this week. “The chart is pretty clear,” he said.

Bitcoin’s Track Record Around Death Cross

Although the death cross indicator hints at a bearish momentum, Bitcoin’s track record with the death cross remains mixed. Bitcoin managed to overcome the death cross risks during March 2020 and June 2021 and later surged higher to form a golden cross. However, in November 2019, Bitcoin started trading lower a month later following the death cross. Speaking on this matter, Greenspan told Bloomberg:

“Some people say it’s bearish, but for Bitcoin, just about all previous death crosses or golden crosses have proven to be a good buying opportunity, along with any other indicator under the sun for everyone who entered before 2021”.

Juthica Chou, head of OTC options trading at Kraken also added: “The history is really mixed — there’s no surprise given that some of the macro backdrop is affecting price action, but we’ve seen a healthy bounce over the last 24 hours. And I think the fundamentals are still really strong.”

After moving downside the last week, Bitcoin has been showing green shoots over the last two days. Moving away from the death cross, Bitcoin has gained 5% from the $40,000 support levels. Thanks to the strong miner accumulation! As of press time, Bitcoin is trading at $42,698 with a market cap of $806 billion.

Recommended
Price Analysis

Best Crypto Presales To Invest In September 2025 – Top Upcoming Presale Tokens

Best Crypto AI Trading Bots In 2025

Top Meme Coins To Buy In September 2025

Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets.   He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.