Here’s How Bitcoin Price $BTC Can Beat the Death Cross and Avoid a Massive Crash
Bitcoin price $BTC fell on shaky ground on Saturday . After a rapid move earlier in the week, the largest cryptocurrency briefly dipped below $50,000 before jumping 28%. However, the death cross pattern casts doubt on the continuation of the uptrend as downside risks increase.
Assessing the Impending Bitcoin Price Correction Bitcoin price rose to $62,760 on Thursday . Recovering all losses from Monday’s black swan event. The sharp drop coincided with a sell-off in the stock market due to weaker-than-expected US nonfarm payrolls data . This signals a potential recession in the US. Additionally, the Federal Reserve’s dovish stance on interest rate cuts has created a risky situation, with riskier assets like Bitcoin and stocks facing the heat.
