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BEARISH 📉 : Bitcoin Nears Death Cross That Preceded Final Bear Market Legs
An analyst highlights a potential "death cross" on Bitcoin's 3-day chart, where the 50-day SMA may cross below the 200-day SMA. This pattern historically signals bearish trends.
- Previous death crosses in 2014, 2018, and 2022 led to price declines of 52.19%, 50.56%, and 45.91%, respectively, marking bear market bottoms.
- The current trend shows narrowing distance between the SMAs, with a potential crossover by February 27th.
- Bitcoin's recent price decline has contributed to this convergence.

Additionally, the Realized Profit/Loss Ratio for Bitcoin has shifted into a loss region, suggesting a prolonged period before liquidity returns.

Currently, Bitcoin's price is approximately $63,300, reflecting a decrease from its recent recovery.