#CryptoCPIWatch

Bitcoin (BTC) is facing a bearish short-term indication, with a "death cross" appearing on its hourly chart. Bitcoin's 50-hour moving average has markedly fallen below the 200-hour moving average, confirming a "death cross."

The bearish signal comes amid a broader market sell-off, which has led to $1.42 billion in crypto liquidations over the past 24 hours, per CoinGlass data. Bitcoin has not been immune to this bearishness, with its price falling as traders faced uncertainty.

Bitcoin fell by more than 11% from a record high of $108,268 achieved earlier this week, on Dec. 17, as lesser prospects for looser U.S. monetary policy dampened speculative fervor.