Bitcoin’s ‘Death Cross’: Nightmare or Just Another Drama?

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So, get this—Tony “The Bull” comes out and says Bitcoin is about to pull a “Death Cross.” Seriously? First of all, a “Death Cross”? What is this, a horror movie? This fancy pattern happens when the 50-day moving average dips below the 200-day moving average, which traders apparently find alarming. It’s like someone yelling FIRE in a crowded theater—oh no, but wait! History tells us that not every Death Cross is a signal for the apocalypse. Kind of like that one friend who always thinks the world is ending because they stubbed their toe.

The Saga of Death and Golden Crosses

Now, Tony’s got a point—Bitcoin’s been dancing with both the Grim Reaper and the Golden Goose over the years. A “Golden Cross”? That’s when the 50-day crosses up above the 200-day. I mean, who comes up with these names? These trends get me more confused than a cat in a dog park. 🐶😼

Bitcoin is about to form a Death Cross of the 50-day and 200-day Moving Average

A thread on what this means historically

— Tony “The Bull” Severino, CMT (@tonythebullBTC) April 3, 2025

Since the thrillingly dramatic 2022 bear market bottom, we’ve witnessed three Golden Crosses and two Death Crosses—what a circus! The first Golden Cross after the FTX fiasco popped up when Bitcoin was lounging around $21,000 and then BOOM, we went on a strong uptrend—talk about a comeback! But then came September 2023, with a Death Cross at $25,000. Everyone freaked out. Turns out, it was just another false alarm. Amazing how the Bitcoin soap opera just keeps dragging on.

Then, not long after that, Bitcoin rolls out another Golden Cross at $35,000. Rallies happen, confetti falls. Yay! 🎉 But wait, it gets better! By August 2024, another Death Cross crashes the party at $61,000. Did Bitcoin care? Nope, just kept climbing! It’s like that guy who gets kicked out of the club yet finds an even better place to hang out. Can you believe it?

Will This Death Cross Change Bitcoin’s Trend?

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So Tony’s saying that, sure, Golden Crosses have been a pretty solid indicator of good times, but Death Crosses? Not so much. In 2022, there was a Death Cross that dragged on for a year, leading to a spectacular 60% price drop. Awful, right? Yet, in other instances, they merely paused for a quick “what’s happening?” before Bitcoin zoomed ahead. It’s like checking your oven to find out why it smells funny: sometimes, it’s just a bunch of leftovers cooking. 🍕

Now, everyone’s biting their nails, wondering if this new Death Cross is going to throw Bitcoin into a downward spiral or be just another false alarm. Since we already had two false Death Crosses? Traders are as divided as a group of friends trying to pick a restaurant for dinner. 🙄

Currently, Bitcoin is chilling around $81,897, down 6% in the last 24 hours, with a market cap strutting its stuff at $1.7 trillion. Now that’s something to ponder. But hey, if you can’t laugh at your money habits, what can you laugh at?

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2025-04-03 18:53