The cryptocurrency market is being shaken by one of the most feared signals in technical analysis: the “Death Cross.” Analysts Andrew Parish and Tillman Holloway have assessed the dynamics behind this move.
Market Uncertainty and Silver's Appeal
Analyst Tillman Holloway argued that the current tension in the market is not solely due to technical data. Holloway stated that the US’s political moves regarding Greenland and the accompanying threat of tariffs have created significant uncertainty in the markets, triggering selling pressure on Bitcoin.
Holloway also drew attention to the upward trend in the silver market, stating that assets with true scarcity value will eventually appreciate. He argued that “physical ownership” (self-custody) is more critical than ever for Bitcoin investors during this period.
Shifting Bitcoin Cycles and Institutional Influence
Commenting on the market’s expectation of $58,000, Andrew Parish emphasized that Bitcoin no longer behaves in the same cycles as in its past. Parish argued that Bitcoin has undergone a structural change with the approval of spot ETFs and the dominance of institutional futures in the market.
Parish noted that massive crashes of 80% or 90% seen in the past are unlikely in this new institutional order. According to the analyst, institutional demand generated by giants like BlackRock acts as a strong buffer under the price.
The ‘Bear Trap’ Scenario
According to the analyses in the news report, although technical indicators point to the 200-day moving average (200 MA) at the $58,000 level, both analysts agree that so much talk about this level could be a “bear trap.”
Andrew Parish, in particular, argues that this climate of fear created in the market could be used to weed out weak investors and allow institutional buyers to step in before prices fall to these levels.