Thursday, July 31, 2025
  • Login
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS
CRYPTO MARKETCAP
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS
No Result
View All Result
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse
No Result
View All Result

Bitcoin Death Cross Threatens To Trigger Crash If Price Does Not Hold $62,000

by SB Crypto Guru News
August 11, 2024
in Bitcoin
Reading Time: 3 mins read
0 0
A A
0


Crypto analyst Benjamin Cowen recently discussed the impact of the death cross indicator, which has appeared again on Bitcoin’s chart. Thanks to this indicator, the $62,000 price level has become crucial to Bitcoin avoiding another price crash.

Cowen noted in a video posted on his YouTube channel that Bitcoin is at risk of dropping lower if it fails to hold above $62,000 heading into the Death Cross. Bitcoin had rallied to as high as $62,000 after recovering from its price crash below $50,000 on August 5. The rise to $62,000 brought about the Death Cross, which now threatens lower prices for the flagship crypto.

The Death Cross And Its Impact On Bitcoin’s Price

The death cross indicator is usually considered bearish and suggests that a prolonged period of declining prices may be on the horizon for the asset in question. This death cross occurs when the 50-day moving average drops below its 200-day moving average. As Cowen revealed, Bitcoin’s 50-day moving average is currently at around $62,000. 

Related Reading

As such, Bitcoin must reclaim and hold above the $62,000 price level soon enough, or it risks further price declines, with a drop below the psychological level of $60,000 already in sight. The crypto analyst specifically drew comparisons to the Death Cross, which occurred in 2019, to provide insights into what Bitcoin’s next move might be. 

He noted that the Death Cross in 2019 marked a local top for the flagship crypto, as it went on to record lower highs after then, and its price was bearish for about four months afterward. However, Cowen admitted that things could play out differently this time, noting that indicators like these tend to play out in a “slightly different way” throughout different cycle phases. 

The timing of this Death Cross could also provide insight into what might happen next for Bitcoin. Cowen noted that September is, on average, the worst month for Bitcoin, suggesting that the flagship crypto could suffer a downtrend that could extend into September.

It Boils Down To The Macro Side

Cowen revealed that whatever happens next for Bitcoin will mainly depend on external factors rather than the prevailing conditions in the crypto market. This includes macroeconomic factors like inflation and the labor market. Indeed, the macro side is believed to be responsible for the crypto crash on August 5 as fears about a recession heightened.

Related Reading

The US Federal Reserve has so far held off on cutting interest rates in a bid to bring inflation down to its desired 2%. However, their hesitation has led to projections that the US economy could soon enter a recession. 

The July US job reports also showed that market participants have cause to be worried as the unemployment rate was higher than expected. The macro side significantly impacts Bitcoin and the crypto market because it largely determines how much money investors are willing to invest in these risk assets.

Bitcoin
BTC trading at $60,625 on the 1D chart | Source: BTCUSDT on Tradingview.com

Featured image from iStock, chart from Tradingview.com



Source link

Tags: BitcoinBitcoin NewsCrashCrossCrypto NewsCrypto UpdatesDeathholdLatest News on CryptoPriceSB Crypto Guru NewsthreatensTrigger
Previous Post

Cornell Professor Warns of Growing Crypto Risks Amid Misleading Promises and Hype

Next Post

Dogecoin Price Soars 2%, But Experts Say This 2.0 DOGE Might Be The Next Crypto To Explode

Related Posts

Ripple CEO Debunks SWIFT Partnership, XRP To Dramatically Change Payments Infrastructure

Ripple CEO Debunks SWIFT Partnership, XRP To Dramatically Change Payments Infrastructure

by SB Crypto Guru News
July 30, 2025
0

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Ripple CEO Brad Garlinghouse has made it...

BlackRock Staking For Its Spot Ethereum ETF Has Been Acknowledged — But What’s Coming For ETH?

BlackRock Staking For Its Spot Ethereum ETF Has Been Acknowledged — But What’s Coming For ETH?

by SB Crypto Guru News
July 30, 2025
0

The US Securities and Exchange Commission (SEC) has acknowledged a Nasdaq filing proposing an amendment to BlackRock iShares Ethereum Trust...

Coinbase, JPMorgan Chase Partner to Simplify Crypto Access for Chase Customers

Coinbase, JPMorgan Chase Partner to Simplify Crypto Access for Chase Customers

by SB Crypto Guru News
July 30, 2025
0

Coinbase and JPMorgan Chase announced a partnership Wednesday to provide Chase’s over 80 million customers with new ways to access...

M XRP/USD Heist: Widow of Country Legend George Jones Victimized in Crypto Theft

$17M XRP/USD Heist: Widow of Country Legend George Jones Victimized in Crypto Theft

by SB Crypto Guru News
July 30, 2025
0

What started as a suspicion of cheating ended with an arrest for XRP/USD theft. Nancy Jones, widow of country icon...

Strategy Buys .46B Bitcoin As ETH Firm BTCS Plans B Raise

Strategy Buys $2.46B Bitcoin As ETH Firm BTCS Plans $2B Raise

by SB Crypto Guru News
July 30, 2025
0

Join Our Telegram channel to stay up to date on breaking news coverage Corporate crypto accumulation continues after Michael Saylor’s...

Load More
Next Post
Dogecoin Price Soars 2%, But Experts Say This 2.0 DOGE Might Be The Next Crypto To Explode

Dogecoin Price Soars 2%, But Experts Say This 2.0 DOGE Might Be The Next Crypto To Explode

Bitcoin Bull Run: Analyst Identifies Where We Are In The Bull-Bear Cycle

Bitcoin Bull Run: Analyst Identifies Where We Are In The Bull-Bear Cycle

Facebook Twitter LinkedIn Tumblr RSS

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • Mining
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - SB Crypto Guru News.
SB Crypto Guru News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS

Copyright © 2022 - SB Crypto Guru News.
SB Crypto Guru News is not responsible for the content of external sites.