Bitcoin Bearish Signal Sparks Concerns of Potential Price Drop to $74,500

A critical technical indicator in the cryptocurrency market has flashed a warning signal for Bitcoin, indicating potential price correction. The monthly Moving Average Convergence Divergence (MACD) histogram turned negative, a development often associated with major bear markets. This bearish signal, according to analysis by CoinDesk, suggests a possible drop to $74,500. While this is not an immediate crash prediction, it confirms the shift in market dynamics and raises questions about future price movement. Let’s examine the implications for investors.