According to U.Today, Bitcoin (BTC) is experiencing a bearish short-term signal as a 'death cross' has appeared on its hourly chart. This occurs when the 50-hour moving average falls below the 200-hour moving average. The bearish signal coincides with a broader market sell-off, resulting in $1.42 billion in crypto liquidations over the past 24 hours, as reported by CoinGlass. Bitcoin's price has dropped by over 11% from a record high of $108,268 earlier this week, influenced by reduced prospects for looser U.S. monetary policy. The Federal Reserve recently lowered its benchmark interest rate, but Fed Chair Jerome Powell's hawkish tone has led to a revised inflation outlook and fewer projected rate cuts in 2025. As a result, some investors are reducing exposure, contributing to the sell-off. Bitcoin's price is currently down 5.35% in the last 24 hours, with $90,000 as a critical support level to watch.
Bitcoin Faces Bearish Signal with Hourly Death Cross Amid Market Sell-Off
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