BTC death cross signals risk of 30% further decline

A death cross has appeared on the BTC/USD daily chart as the 50-day moving average crossed below the 200-day moving average, signaling the potential for a further correction. Cointelegraph reported that following a death cross in 2022, Bitcoin's price fell by approximately 50% to a low of $15,480. Historically, after three previous death crosses, BTC has fallen by an average of 80% from its peak, the outlet noted. With Bitcoin currently down about 50% from its recent high, some market observers speculate that the cryptocurrency could establish a final bottom in the $30,000 to $45,000 range.