BEARISH 📉 : Bitcoin faces death cross, signaling potential price decline

An analysis of Bitcoin has identified a "death cross" between its 21-day and 50-day simple moving averages (SMAs), often preceding bearish trends.

The recent crossover marks the 21-day SMA falling below the 50-day SMA.
Historically, this pattern has led to significant price declines, with past drops ranging from 54% to 69%.
The last occurrence in 2022 resulted in a nearly 66% decline.

Potential risks include Bitcoin breaching the Realized Price-to-Liveliness Ratio, an on-chain indicator.

This ratio currently stands at approximately $87,500.
Bitcoin temporarily dipped below this level but has since recovered.
Should it fall again, the Realized Price is around $56,000, which may act as support.

Current trading price: $89,500, reflecting a 2% increase over the last week.