The crossing of this indicator on two different timeframes has signaled to traders that short-term performance may be weakening, sparking fear in the market.
A key Bitcoin indicator is raising new alarm bells among crypto traders, with a “bearish cross” signaling that the asset may be headed for further decline — though history suggests this could actually be a good sign.
“Bitcoin just printed a bearish cross on the daily chart,” pseudonymous crypto trader Mags wrote in an Aug. 15 X post.
Mags was referring to the “death cross” a bearish signal that occurs when the 50-day simple moving average (SMA) of Bitcoin’s (BTC) price falls below the 200-day SMA.
