On April 3, glassnode posted on social media that a Bitcoin on-chain signal similar to a death cross has appeared. The 30-day volume-weighted price of Bitcoin has fallen below the 180-day volume-weighted price, indicating a weakening momentum. Historically, this pattern usually suggests a bearish trend for the next 3 to 6 months.
Glassnode: Bitcoin's "death cross" signal usually indicates a bear market trend in the next 3 to 6 months
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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