Bitcoin is facing a potential setback as its price reveals a ‘death cross’ pattern, signaling weakening momentum. This bearish indicator arises when the 50-day moving average crosses below the 200-day moving average, often suggesting a decline in price strength and an increase in downside risk. This recent technical event follows Bitcoin’s recent dip, adding to concerns about market uncertainty. However, it’s crucial to remember that this doesn’t necessarily mean immediate crashes. The next few weeks will determine if this pattern continues or Bitcoin rebounds from its current lows. Experts are closely monitoring key support levels around $35,000 and $31,000, which have historically acted as areas of buying interest. If these levels hold strong, a sideways consolidation or gradual upward trend could emerge. But if the price breaks below these levels, it may trigger a deeper correction, potentially pushing Bitcoin below the $30,000 mark. While a death cross is often seen as a bearish sign, this doesn’t guarantee immediate market crashes. It’s essential to consider macro factors like U.S. economic data, interest rate expectations, and institutional investments in influencing Bitcoin’s trajectory. 1