Bitcoin Forms 'Death Cross', Bullish Or Bearish For BTC Price?

The Bitcoin price could likely be facing more turbulent times, considering the recent technical patterns like the formation of the Death Cross. It refers to the drop of a short term moving average for the cryptocurrency over time below a longer term moving average.

Also Read: Apple Annual Keynote Event 2023: What To Expect

Bitcoin Price Forms Death Cross Pattern

In this case, the BTC price saw a death cross pattern as its 50 day short term moving average has breached its 200 day short term moving average.

$BTC has just experienced another death cross, as its 50-day SMA has breached its 200-day SMA. #forbescrypto #Bitcoin pic.twitter.com/9ntwD8B6Bg

— Steven Ehrlich (@Steven_Ehrlich) September 11, 2023

This is also being supported by the fact that in recent weeks, liquidity in the crypto market has been on a steady decline. According to Glassnode, both on chain and off chain volumes are about to reach historical lows. More importantly, further decline in Bitcoin price could likely mean that a huge part of the supply falls into a significant unrealized loss, which could officially mean the onset of the bear market yet again.

Case For The BTC Bull Run

On the positive side, Bitcoin has in recent months formed a Double Top Support pattern, which means it now has the support with resistance of two tops. Trader Tardigrade, a crypto influencer, stated that if the support in the current zone holds, there could be a massive bull run.

Also Read: Coinbase Warns US Lawmakers Ahead Of Gary Gensler Hearing

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

Anvesh Reddy

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at [email protected] or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

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.