Bitcoin’s death cross signals a potential bear market as selling pressure mounts, pushing the price down to $80,000. The 50-week moving average was breached, indicating a shift in macro trend. The death cross on the daily chart, with the 50-day SMA crossing below the 200-day SMA, historically preceded significant price declines.

Realized losses in Bitcoin have surpassed $800 million, driven by short-term holders panic-selling at a loss. Glassnode reports a surge in aggregate realized losses, with recent buyers unwinding into the drawdown. Analysts warn that failing to reclaim the cost basis could confirm a deeper bearish trend or a bear market.

Read more at Cointelegraph: Bitcoin’s Death Cross Invalidates Macro Uptrend as Realized Losses Rise