CandleFocus

Bitcoin (BTC) Hourly Death Cross Emerges: Details

Author: Content Editor
Bitcoin (BTC) is experiencing a bearish indication as a "death cross" appears on the hourly chart, with the 50-hour moving average falling beneath the 200-hour moving average. This bearish signal comes amidst a market sell-off that has led to $1.42 billion in crypto liquidations in the past 24 hours. Bitcoin's price has fallen over 11% from its record high of $108,268 due to uncertainty and decreased prospects for looser U.S. monetary policy. The recent release of data showing lower-than-expected inflation and the Federal Reserve's projection of fewer rate cuts in 2025 have further contributed to the sell-off. BTC is currently down 5.35% in the last 24 hours, potentially marking its third consecutive day of losses. However, death crosses are not always indicative of further declines, and the market is monitoring Bitcoin's support levels, particularly the psychological barrier of $90,000. On the upside, a sustained rebound could lead to a retest of the $100,000 level and potentially reach targets of $113,000 and $125,000.

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