#BinanceSquareTalks Bitcoin News: Bitcoin Nears $80K as ‘Death Cross’ Forms, US Stocks See Worst Sell-Off Since COVID Crash





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Bitcoin (BTC) is under heavy pressure once again, dropping toward $80,000 after failing to hold early April gains. The price dip comes as U.S. stocks mirror their worst single-day performance since the 2020 COVID-19 pandemic crash, and BTC prints a bearish “death cross” signal on-chain.



BTC Slides as Risk Sentiment Crumbles

Data from Cointelegraph Markets Pro and TradingView shows BTC/USD dipping below $82,000 during the April 3 Wall Street open — its lowest level this month. This comes after an early-week rally that pushed Bitcoin to $88,580 following the U.S. announcement of sweeping reciprocal trade tariffs.



However, the rally quickly lost steam as investors absorbed the impact of aggressive tariff measures. The broader markets followed suit: the S&P 500 plunged 4%, wiping out nearly $3 trillion in market cap, according to The Kobeissi Letter.

“Today's -3.7% drop puts the S&P 500 on track for its largest daily decline since the 2020 pandemic lockdowns,” the firm noted.

Adding fuel to the fire, U.S. initial jobless claims came in stronger than expected at 219,000, suggesting a resilient labor market. This undermines hopes for imminent rate cuts and increases pressure on risk assets like crypto.

Death Cross Emerges as Bearish Momentum Builds

According to on-chain analytics firm Glassnode, Bitcoin just flashed a mid-term “death cross” pattern — the 30-day volume-weighted average price (VWAP) fell below the 180-day VWAP, historically a signal for 3–6 months of bearish trends.

“An on-chain analogue to the Death Cross has emerged... signaling weakening momentum,” Glassnode posted on X.