Death Cross Bitcoin signals indicate the negative side where the S&P 500 is approaching the landing style

Bitcoin and other cryptocurrencies remained in a strong landing this year, which threw a value of more than a trillion dollars.

Bitcoin (BTCIt was shattered from the highest level from 109,300 dollars to 82,000 dollars, while popular altcoins like Ethereum (Eth), Tamulization (Xrp), Cardano (LeadIt was a deeper diving.

The encryption prices decreased due to the high fear in the financial markets. Fear and greed index has decreased to the 19 -year -old extremist area. Likewise, the CNN Money Fear measure decreased to 20.

The main catalyst for this sale is the increasing concern that the United States is heading towards the stagnation that was particularly injured Donald Trump’s tariff.

These concerns have exceeded the positive news in the encryption industry. For example, the Securities and Stock Exchange Committee has completed many lawsuits that affect companies such as UISWAP, Kraken and Coinbase.

Moreover, Donald Trump signed an executive order to create a Bitcoin strategic reserves And digital currencies. Also, more institutional investors such as Citadel, Blackrock, Rumble and Trump Media began to get Bitcoin.

Bitcoin and Altcoins may face an additional decrease if the S&P 500 index is an intersecting pattern of death-a technical composition that occurs when the moving averages cross for 50 days and 200 days each other. This style often indicates the beginning of the prolonged bear market.

The widespread between the weighted moving averages continued for 50 days and 200 days (WMA) for the S& P 500 index in the narrow. WMA for 50 days is $ 5,900, while WMA for 200 days is $ 5,857. Cross is likely to perform with more from the negative side, as the index decreased by 23 % the last time that this style was formed in 2022.

The S&P 500 is often seen as a reliable indicator of the encryption market because both are considered risky assets and tend to move in the link.

Bitcoin has already formed the death cross

Meanwhile, the Bitcoin price has already formed the death cross, with the transit of moving averages for 50 days and 200 days together. This cross occurred after Bitcoin fell below the main support at $ 89,000-the neckline for double style at $ 108,500. The dual summit is one of the most descending patterns in technical analysis.

Therefore, the most likely scenario is that bitcoin decreases either to $ 73,722 or $ 68,960 before the bounce. The first goal is the highest swing in March last year, while the second is the highest point in November 2021.

A possible catalyst may prevent more S&P 500 and Crypting market crashes It is the interest rate decision in the next Federal Reserve next week. More tone is like US dollar index The bond market suggests that it will lead to a recovery.