Bitcoin

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<p>Bitcoin finds itself <a href="https://x.com/steven_ehrlich/status/1699853963519021429?s=46&amp;t=dYF0hpz-gFc8HcetSehFUQ" rel="noopener noreferrer nofollow">on the cusp</a> of a concerning technical indicator: the “Death Cross.” This phenomenon occurs when Bitcoin’s 50-day Simple Moving Average (SMA) crosses below its 200-day SMA.&nbsp;</p> 
<p>Forbes analyst Steven Ehrlich recently highlighted this trend, which often signals impending bearish momentum.&nbsp;</p> 
<img src="https://u.today/sites/default/files/inline-images/IMG_0890.jpeg" data-entity-uuid="f670a2dd-fc42-41ed-8a98-55e2921c589e" data-entity-type="file" alt="Image by @Steven_Ehrlich "> 
<p>For the uninitiated, moving averages help smooth out price data to create a single flowing line, making it easier to identify the direction of the trend.</p> 
<h2 id="bitcoin-s-modest-volatility">Bitcoin’s modest volatility&nbsp;</h2> 
<p>Investor sentiment has been tense, with Bitcoin’s price showing modest volatility within a 24-hour range of $25,641.06 to $25,925.03.&nbsp;</p> 
<p>According to <a href="https://www.coingecko.com/" rel="noopener noreferrer nofollow">CoinGecko data</a>, Bitcoin’s market cap is a formidable $503.8 billion.</p> 
<p>However, the looming <a href="https://u.today/bitcoin-btc-eyes-first-2023-death-cross-details?amp" rel="noopener noreferrer nofollow">Death Cross</a> could disrupt this relative stability.</p> 
<p>It is not a guarantee of an upcoming bear market, but it does raise eyebrows among market participants.&nbsp;</p> 
<h2 id="bernstein-s-bullish-prediction">Bernstein’s bullish prediction&nbsp;</h2> 
<p>In the meantime, financial research firm Bernstein <a href="https://u.today/bernstein-says-bitcoin-and-crypto-poised-for-epic-rally?amp" rel="noopener noreferrer nofollow">predicts</a> a significant rally in the cryptocurrency market, primarily led by Bitcoin, due to a recent court decision favoring <a href="https://u.today/bitcoin-etf-grayscale-decision-delayed?amp" rel="noopener noreferrer nofollow">Grayscales</a> against the U.S. anticipated surge is expected to be driven by long-term institutional investors</p>

Bitcoin on the Brink as Death Cross Looms

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