From Cointelegraph
April 3, 2025 12:13 pm:

Bitcoin (BTC) dropped to new monthly lows as US unemployment data weighed on risk assets. BTC/USD fell below $82,000, hitting its lowest point since the start of April. US stocks tumbled, with the S&P 500 down over 4%. Initial jobless claims came in lower than expected at 219,000, pointing to a stronger labor market.

Market participants anticipate a potential interest-rate cut from the Federal Reserve at the June FOMC meeting. Recession fears are rising, leading markets to believe that the Fed may need to cut rates soon. BTC price action remains bearish with $80,000 support in sight. Analysts predict a potential 3-6 month bearish trend for Bitcoin.

Onchain analytics firm Glassnode reported a new “death cross” for Bitcoin, signaling weakening momentum. The convergence of two midterm moving averages historically preceded 3-6 months of bearish trends. Speculative sell-offs in recent months have not reached levels typically seen at blow-off price tops. Readers are advised to conduct their own research before making investment decisions.

Read more at Cointelegraph: Bitcoin falls toward $80K and prints ‘death cross’ as US stocks mimic 2020 COVID-19 crash