As Bitcoin (BTC) attempts to maintain its price above $110,000, technical indicators suggest that further losses may be imminent.

Specifically, according to insights from cryptocurrency analyst Ali Martinez posted on X on August 27, the 'death cross' on the MACD indicator highlights the threat of further declines.

It is worth noting that the MACD tracks momentum through two moving averages, and a death cross occurs when the short-term line crosses below the long-term line, signaling bearish pressure.

Historically, this pattern suggests that Bitcoin may experience a significant pullback, with the latest signals indicating that Bitcoin could drop to the support level of $100,000.

Analysis indicates that after a strong rise in early 2025, Bitcoin faced rejection in the $120,000 range, with this drop primarily triggered by whale sell-offs of the asset.

Since then, prices have fallen into a downward trend, dropping more than 9% from the peak. Previous pullbacks, such as a 28.1% drop in February 2025, highlighted that selling pressure may rapidly intensify after a reversal of momentum.

Bitcoin social sentiment weakens

In addition to price trends, market sentiment indicators have also raised red flags. Data shared by Martinez indicates that discussions related to Bitcoin on social media have sharply declined, reaching the lowest levels since June.

This shift in online sentiment indicates that retail traders and investors are increasingly losing confidence. Historically, such a sentiment downturn often accompanies increased volatility and accelerated sell-offs, further exacerbating technical weakness.

Bitcoin Price Analysis

As of the time of writing, Bitcoin's trading price is $110,526, having slightly risen by 0.14% in the past 24 hours, but down 1.55% over the past week.

Currently, Bitcoin's trading price is below its 50-day moving average ($116,564), but still well above the 200-day moving average ($95,245). This indicates that while the long-term trend remains bullish, short-term momentum has weakened, making it difficult for prices to stay above the mid-term average.

At the same time, the 14-day RSI is at 42.71, slightly below the neutral 50 mark, indicating moderate bearish pressure, but not entering the oversold region.