Bitcoin Bloodbath: Price Falls Below $97,000 — Death Cross Raises Risk of Further Drops
Bitcoin plunged through the psychological $100,000 mark and dropped below $97,000 as buyers failed to step in after the first daily close under $100K in five months. The indecisiveness among bulls accelerated bearish momentum, while several altcoins displayed relative strength as traders rotated into smaller caps and risk-on opportunities.
Market participants are watching for a potential death cross — a short-term moving average crossing below a long-term one — which, if confirmed, could signal a more entrenched downtrend and invite fresh selling pressure. Near-term risk will depend on whether dip buyers return or momentum-driven liquidations extend the slide; derivatives flows and sentiment metrics will be key to watch for traders and holders managing increased risk exposure.