NewsBTC
Mar 13, 2025
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Bitcoin Price Risks Further Crash as S&P Monthly LMACD Turns Bearish

2 min

Crypto analyst Tony Severino warns that Bitcoin price may face further declines. A bearish signal has emerged from the S&P 500 monthly LMACD, which correlates strongly with Bitcoin's price movements.

Key Points

  • The S&P 500 monthly LMACD has turned bearish and the histogram is red.
  • Severino states BTC bulls have a 20-day window to reverse this bearish trend.
  • A failure to do so may result in significant price declines for Bitcoin.
  • Previous crossovers associated with bearish setups led to market downturns.
  • Bitcoin recently dropped to $76,000, raising concerns of an ongoing bear market.

Despite these warnings, some analysts remain optimistic. Arthur Hayes from BitMEX believes the bull market is intact, citing a typical 30% correction from all-time highs as part of the cycle. He anticipates a rebound following easing monetary policies from the US Federal Reserve.

Additional Insights

  • Kevin Capital also sees potential for Bitcoin recovery, viewing its chart positively.
  • He predicts a test of the $70,000 to $75,000 range would be acceptable.
  • Upcoming US CPI data could impact market sentiment, especially if it indicates slowing inflation.

Currently, Bitcoin is trading at approximately $81,860, reflecting a 2% increase over the last 24 hours.