‘Death Cross’ Technical Risk
Bitcoin's 50-day moving average is approaching a cross below the 200-day moving average, known as the ‘Death Cross’. Historically, this signal has often triggered subsequent declines of about 10–20%. If confirmed, bearish momentum will be strengthened, according to Business Insider.
US Stablecoin Regulatory Bill Shelved
#fartcoin
The US Senate failed to pass the ‘GENIUS Act’, which aimed to establish a federal regulatory framework for stablecoins pegged to the dollar, leaving the outlook for stablecoin compliance uncertain and potentially hurting leveraged and derivative trading based on stablecoins.
Large-scale Options Expiration Leans Bearish
Over $3 billion in Bitcoin and Ethereum options contracts are set to expire this week, with most of the ‘max pain points’ concentrated on the bearish side.
Political and Scandal Risks—CryptoGate
Argentina’s President Milei's promotion of the ‘$LIBRA’ coin has sparked a suspected pump-and-dump scandal, causing investors to lose over $250 million, leading to international lawsuits and political investigations, which may heighten market sensitivity to policy-related risks, according to Wikipedia.
Macroeconomic Environment: US Rate Hike Expectations Resurface
In the face of high inflation, the US Federal Reserve reaffirms its hawkish stance, and market concerns over further rate hikes are likely to pressure risk assets (including cryptocurrencies).
