Analysts: The 50-day and 200-day moving averages have formed a death cross, and the cryptocurrency market may further decline in the medium term.

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ODAILY
08-12
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Odaily Odaily News YouHodler risk manager Sergei Gorev said that as two important moving averages, the 50-day and 200-day moving averages have formed a "death cross", indicating that the cryptocurrency market may fall further despite a short-term rebound. In addition, BRN analyst Valentin Fournier said: "The decline in Bitcoin open interest exceeded the decline in token prices, indicating that investor confidence and interest have declined as volatility remains high. Trading volume is also lower than most weekends, indicating that small sell-offs are not supported by strong bear market actions." (TheBlock)

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