The crypto world is completely in the red these days. Traders and investors who were happily buying at high prices a few months ago are feeling the most pain today. The market’s enthusiasm seems to be slowly fading, replaced by fear and uncertainty. Bitcoin is currently trading at around $88,000, having lost more than 20% in the past 30 days. The total value of the crypto market fell to $3.04 trillion today a loss of nearly 5% in just 24 hours.
The macroeconomic environment is also playing spoilsport
Expectations of a rate cut by the Federal Reserve in December are steadily declining, and this is having a direct impact on the crypto market. Bitcoin ETFs experienced heavy outflows for the fifth consecutive day, with $523 million withdrawn from a BlackRock fund alone in a single day. Such signs suggest that large investors are currently fleeing to safe assets, and the specter of a potential “2026 Crypto Winter” in crypto is growing.
The same fears are reflected in Dastan’s prediction market, ‘Myriad.’ Nearly 73% of traders believe Bitcoin could break through to $85,000. The outlook for Ethereum is also dire 62% believe ETH could fall from $2,800 to $2,500.
What the Charts Say: Confirmation of a Death Cross and the Beginning of a New Downtrend
Bitcoin opened today at $92,911, but within hours, it slid straight to $88,605. This is a massive drop of $4,000 in a single day, pushing BTC back below the crucial psychological level of $90,000. Technical indicators paint an even more dire picture.
On Bitcoin’s chart, the 50-day EMA has crossed below the 200-day EMA. This pattern is known as a “Death Cross” in the trading world and it typically signals a long-term bearish trend. BTC is currently trading below both EMAs, with significant resistance above.
The ADX, which measures trend strength, is currently at 38.25. This means the market’s decline is not just a mild fluctuation but a strong downtrend. This fear is also evident in the falling readings of the Crypto Fear and Greed Index.
The RSI is currently at 27.12, meaning Bitcoin is in an “oversold” state. This doesn’t mean the decline will stop immediately, but it indicates that selling pressure is now reaching exhaustion. Often, in such situations, the market shows a sharp bounce—though whether this bounce will be sustainable or not is uncertain at this time.
The Squeeze Momentum Indicator is also currently showing strong downward pressure, which clearly indicates that the downtrend shows no signs of slowing down.
Will further declines occur
The market is currently in a highly sensitive state. The selling pressure over the past several weeks has weakened trader confidence. Bitcoin will need to hold above $90,000 in the next few days before any stability can be expected. If the $85,000 level is broken, market panic could increase.
Frequently Asked Questions
Q1. Can Bitcoin decline further now?
Yes, if the $85,000 support is broken, the decline could deepen.
Q2. Does the market always fall sharply when a Death Cross occurs?
No, but it does indicate a strong bearish trend.
Q3. Is this the beginning of a crypto winter?
Many analysts believe so, but it’s too early to draw final conclusions.
Q4. Will an oversold RSI lead to an immediate recovery?
Not immediately, but the likelihood of a short-term bounce increases.
Disclaimer: This article is for informational purposes only. The crypto market is highly volatile and risky. Do your own research or consult a financial advisor before making any investment. Every market movement depends on the changing global environment, so trade with caution.
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